Payroll

Question 1

Allowance claimed by an employee for self or for a dependent that determines income tax withheld

Answer 1

Exemption

Question 2

Amount an employee receives before deductions

Answer 2

Gross pay

Question 3

Amount an employee receives after deductions

Answer 3

Net pay

Question 4

From completed by an employee that helps the employer determine the amount of income tax to withhold

Answer 4

W-4

Question 5

Form completed by a business when paying taxes to IRS

Answer 5

Federal Tax Deposit Coupon

Question 6

Form listing gross and net pay for the employees of the business

Answer 6

Payroll register

Question 7

Form showing one employees hours during a pay period

Answer 7

Time card

Question 8

Law requiring employees to pay social security and Medicare tax

Answer 8

Federal Insurance Contributions Act(FICA)

Question 9

What is a common payroll deduction?

Answer 9

Health insurance

Question 10

The W-4 is completed when…

Answer 10

An employee is first hired

Question 11

Businesses keep accurate records of employees hours spent on the job with…

Answer 11

Time cards