Questions
Questions

Introduction to Business & Finance (H) - 3 - Beatty - Preparatory Academy - 2nd Semester - 2024/2025 Ch 2: Quiz

Matching

Match the correct key term with its definition.  1: Benefits 2: Dividends 3: Gross Pay 4: Medicare tax 5: Net Pay 6: Overtime Pay 7: Personal Leave 8: Retirement Plan 9: Sales Tax 10: Sick Leave 11: Social Security Tax 12: Unearned Income 13: Use Tax 14: Workers Compensation 15: Excise Taxes

Options
A.Total salary or wages earned during a pay period
B.Money in the form of check, a debit card, or other direct payment given to a person needing assistance
C.A withholding tax that pays for Old-Age, Survivors, and Disability Insurance (OSADI) benefits
D.Paid time away from work for personal reasons
E.A tax that pays for medical care for retired persons age 65 and older who receive Social Security benefits
F.A portion of a corporation’s profits distributed to stockholders
G.Paid time away from work due to illness
H.A tax charged on the purchase of specific goods and services
I.A tax charged on the use, storage, or consumption of a good that was purchased in one state but used in another state
J.Forms of compensation in addition to salary or wages
K.Money received from sources other than working
L.An account into which employees voluntarily contribute a portion of their earnings for their retirement; employers may match these contributions
M.Pay received for hours worked in addition to regular hours
N.An insurance plan that pays medical and disability benefits to workers injured on the job
O.The amount of your paycheck after deductions
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Step-by-Step Analysis
Question and options restated for clarity: - Question: Match the correct key term with its definition. - Terms (1-15): 1) Benefits 2) Dividends 3) Gross Pay 4) Medicare tax 5) Net Pay 6) Overtime Pay 7) Personal Leave 8) Retirement Plan 9) Sales Tax 10) Sick Leave 11) Social Security Tax 12) Unearned Income 13) Use Tax 14) Workers Compensation 15) Excise Taxes - Definitions (in order): 1. Forms of compensation in addition to salary or wages 2. A portion of a corporation’s profits distributed to stockholders 3. Total salary or wages earned during a pay period 4. A tax that pays for medical care for retired persons age 65 and older who receive Social Security benefits 5. The amount of your paycheck after deductions 6. Pay received for hours worked in addition to regular hours 7. Paid time away from work for personal reasons 8. An account into which employees voluntarily contribute a portion of their earnings for their retirement; employers may match these contributions 9. A tax charged on the purchase of specific goods and services 10. Paid time away from work due to illness 11. A withholding tax that pays for Old-Age, Survivors, and Disability Insurance (OSADI) benefits 12. Money received from sources other than working 13. A tax charged on the use, storage, or consumption of a good that was purchased in one state but used in another state 14. An insurance plan that pays medical and disability benefits to wo......Login to view full explanation

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