Question 1. B. take-home pay
Question 2. B. an IRS form used to determine how much federal tax to withhold
Question 3. B. all wages, salaries, and other earnings
Question 4. B. retirement plan contribution and D. health insurance
Question 5. A. all wages, payments, and other earnings
Question 1. Which is a common way of describing net income? (1 point)
A. paystub
B. take-home pay
C. salary
D. wages
Question 2. Which defines a W-4? (1 point)
A. a special kind of deduction
B.an IRS form used to determine how much federal tax to withhold
C. a form created by employers to determine tax rate
D. a form of tax credit for individuals with children
Question 3.Which describes an individual's net income? (1 point)
A. all salaries
B. all wages, salaries, and other earnings
C. all wages and other earnings minus FICA
D. all wages minus all taxes and deductions
Question 4.Which are voluntary deductions? Select the two correct answers. (1 point)
A.FICA
B.retirement plan contribution
C.delinquent child support
D.health insurance
E.Social Security
Question 5.Which describes gross income? (1 point)
A. all wages, payments, and other earnings
B. all wages minus voluntary deductions
C.all wages and other earnings minus FICA
D. all wages minus involuntary deductions
1 answer