Choose the one word or phrase that best completes the sentence and fill in the appropriate answer above.
1-
......... pay is what an employee earns before deductions.
A -
Net
B -
Full
C -
Gross
D -
Complete
2-
......... pay is what an employee actually receives after deductions.
A -
Net
B -
Reduced
C -
Final
D -
Gross
3-
An employee who is paid on ......... receives the same pay each pay period no matter how many hours they work.
A -
commission
B -
salary
C -
overtime
D -
wage
4-
In the USA working over 40 hours per week is considered overtime. For each hour of overtime in the USA you receive your hourly ......... multiplied time 1 1/2.
A -
money
B -
dollars
C -
wage
D -
salary
5-
The rates for overtime in the USA are generally known as ..........
A -
pay-plus-one-half
B -
an hour and a half
C -
hour plus half
D -
time-and-a-half
6-
Federal taxes and Social Security are both examples of standard ......... from your paycheck.
A -
reduction
B -
deductions
C -
withdrawals
D -
removals
7-
In order to cash a check you must ......... it, or in other words sign the back.
A -
endorse
B -
stamp
C -
write
D -
balance
8-
You record how much each of your employees should be paid in the ......... account.
A -
employee pay
B -
standard deductions
C -
net pay
D -
payroll
9-
An ......... check is one that you have written and deducted from your checkbook balance but has not yet cleared the bank.
A -
intermediate
B -
overdue
C -
outstanding
D -
overdrawn
10-
Books are all closed at the end of an accounting period. A more common term for an accounting period is a ......... period.