Download p. 125 6.1 Assessment

Name _____________________________
Personal Finance
Chapter 6
p. 125 6.1 Assessment Questions
Directions
Answer the following questions. Refer to the chapter for additional reinforcement.
1. Time worked beyond the regular hours.
2. Money offered to encourage employees to strive for higher levels of performance.
3. Amounts subtracted from gross pay.
4. The total amount earned before any deductions are subtracted.
5. The amount left after deductions are taken out of gross pay.
6. The points at which employees have full rights to their retirement accounts.
Name _____________________________
Personal Finance
7. The total of 15.3 percent for Social Security and Medicare tax paid by people who
work for themselves.
Self-Employment Tax
8. What is included in gross pay?
9. List optional deductions from gross pay.
10. List required deductions from gross pay.
11. What are some employee benefits and incentives provided at many workplaces?