Chapter 17.2

Question 1

Merchandise

Answer 1

goods to be bought and sold.

Question 2

payroll

Answer 2

a list of a company’s employees and the amount of money they are to be paid.

Question 3

With-holding-allowance

Answer 3

an exemption from tax for a portion of your wages.

Question 4

Dependant

Answer 4

requiring someone or something for financial, emotional, or other support.

Question 5

Employees earnings record

Answer 5

a report that details an employee’s pay and deductions for a specific period of time.

Question 6

Payroll register

Answer 6

a list of a company’s employees and the amount of money they are to be paid.

Question 7

Gross pay

Answer 7

the total amount of money an employee earns before taxes and other deductions are taken out

Question 8

Account

Answer 8

an arrangement made with a bank whereby one may deposit and withdraw money and in some cases be paid interest.

Question 9

Chart of accounts

Answer 9

is a list of all the accounts in a company’s general ledger.

Question 10

Double-entry accounting

Answer 10

is a bookkeeping method that records every financial transaction in at least two accounts.

Question 11

Journal

Answer 11

a newspaper or magazine that deals with a particular subject or professional activity.

Question 12

Journalizing

Answer 12

the practice of documenting a business transaction in accounting records.

Question 13

Ledger

Answer 13

a book or other collection of financial accounts of a particular type.

Question 14

Poster

Answer 14

an appointment to a job, especially one abroad or in the armed forces.