quiz show financial literacy chapter 2 quiz review n.
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Quiz Show Financial Literacy Chapter 2 Quiz Review. Taxes and other deductions are items subtracted from a worker’s gross pay to calculate net pay…. Vacation days, holidays and sick leave are examples of “pay without work” benefits….

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Quiz Show Financial Literacy Chapter 2 Quiz Review


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taxes and other deductions are items subtracted from a worker s gross pay to calculate net pay
Taxes and other deductions are items subtracted from a worker’s gross pay to calculate net pay…
the more you pay in tax deductions the higher your disposable income or take home pay
The more you pay in tax deductions, the higher your disposable income (or take home pay)
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A lifestyle self-employment business is one where the owner pursues a business in his own hobbies and intends to keep the business small…
slide8
If you do not work in a given year, you cannot use the public goods and services provided by our tax dollars…
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What insurance will provide an employee with unearned income payments to replace income lost when illness, pregnancy or injury (not job related) prevents one from working?

disability insurance

match up the following words and definitions
Match up the following words and definitions

benefits

entrepreneur

net pay

sick leave

minimum wage

the lowest pay rate allowed by law

amount of paycheck after deductions

forms of pay other than

salary or wages

a person who takes the risks

Of being self-employed

paid time away from work due to illness

which of the following payroll deductions is optional or voluntary
Which of the following payroll deductions is optional or voluntary?

social security tax

medicare tax

state income tax

federal income tax

retirement contribution

which of the following payroll deductions is required by law
Which of the following payroll deductions is required by law?

charitable donation

group life insurance

health/medical insurance

savings plan

federal income tax

which of the following is not a benefit often received by full time workers
Which of the following is NOT a benefit often received by full-time workers

perks

sick/maternity leave

pay without work (vacation, holiday)

health/medical insurance

lunch money

social security tax is
Social security tax is….

a system set up for government paid retirement income

required by law for your employer to withhold as a deduction

meant for distribution to workers who have retired from working

a fixed 6.2% percent deduction from your income

all of the above