Multiple Choice
Select the one term that best fits each definition.
-A federal tax paid for hospital insurance.
A) 401(k)
B) commission
C) direct deposit
D) electronic funds transfer
E) individual retirement account
F) Medicare tax
G) net pay
H) qualified retirement plan
I) Roth individual retirement account
J) social security tax
K) tax base
L) withholding allowance
Correct Answer:

Verified
Correct Answer:
Verified
Q13: Businesses use payroll records to inform employees
Q14: Select the one term that best fits
Q15: When an employee's earnings exceed the tax
Q16: Select the one term that best fits
Q17: Each employee name is listed in a
Q19: A business form used to record details
Q20: Select the one term that best fits
Q21: The total earnings paid to an employee
Q22: A business is required by law to
Q23: The Accumulated Earnings column of the employee