Question 1

Which of the following is the correct sequence for computing net pay?

Accepted Answer

A)   Compute gross pay, deduct taxes, and add voluntary deductions.
B)   Compute gross pay, deduct pre-tax amounts, compute FICA, deduct taxes, and deduct post-tax amounts.
C)   Compute gross pay then deduct withholding and add FICA taxes to obtain net pay.
D)   Compute gross pay, compute FICA, deduct pre-tax amounts, and deduct taxes.

Question 2

Computation of net pay involves deducting mandatory and voluntary deductions from gross pay.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following is used in the determination of the amount of federal income tax to be withheld from an employee per pay period? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with
The question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)

Accepted Answer

A)   Date of birth
B)   Period salary
C)   Marital status
D)   Prior year's tax return

Question 4

Garnishments are court-ordered amounts that an employer must withhold from an employee's pre-tax pay and remit to the appropriate authority.

Accepted Answer

A) True 
 B)False

Exam 5: Employee Net Pay and Pay Methods

Computation of net pay involves deducting mandatory and voluntary deductions from gross pay.

Correct Answer
verified

Garnishments are court-ordered amounts that an employer must withhold from an employee's pre-tax pay and remit to the appropriate authority.

Correct Answer
verified

Which of the following is the correct sequence for computing net pay?

Correct Answer
verified

Correct Answer
verified

Exam 5: Employee Net Pay and Pay Methods

Computation of net pay involves deducting mandatory and voluntary deductions from gross pay.

Correct AnswerverifiedShow Answer

Garnishments are court-ordered amounts that an employer must withhold from an employee's pre-tax pay and remit to the appropriate authority.

Correct AnswerverifiedShow Answer

Which of the following is the correct sequence for computing net pay?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified