100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
CFL Test UPDATED Exam Questions and CORRECT Answers $7.99   Add to cart

Exam (elaborations)

CFL Test UPDATED Exam Questions and CORRECT Answers

 7 views  0 purchase
  • Course
  • CFL
  • Institution
  • CFL

CFL Test UPDATED Exam Questions and CORRECT Answers Payroll equation - CORRECT ANSWER- calculation of net pay from gross pay minus deductions Gross pay - CORRECT ANSWER- total earnings before deductions and taxes net pay - CORRECT ANSWER- earnings after deductions and taxes Income tax - COR...

[Show more]

Preview 1 out of 3  pages

  • August 4, 2024
  • 3
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • CFL
  • CFL
avatar-seller
MGRADES
CFL Test UPDATED Exam Questions and
CORRECT Answers

Payroll equation - CORRECT ANSWER- calculation of net pay from gross pay minus
deductions


Gross pay - CORRECT ANSWER- total earnings before deductions and taxes


net pay - CORRECT ANSWER- earnings after deductions and taxes


Income tax - CORRECT ANSWER- Tax paid to the state, federal, and local governments
based on income earned over the past year.


Allowance - CORRECT ANSWER- amount subtracted from gross pay to determine taxable
income


dependent - CORRECT ANSWER- A person who relies on the taxpayer for financial support


social security - CORRECT ANSWER- federal program of disability and retirement benefits
that covers most working people


medicare - CORRECT ANSWER- A federal program of health insurance for persons 65 years
of age and older


FICA - CORRECT ANSWER- Federal Insurance Contributions Act


pay period - CORRECT ANSWER- the amount of time over which an employee is paid


YTD - CORRECT ANSWER- year-to-date ; amount you have earned or paid in the year so
far

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller MGRADES. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $7.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

78834 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$7.99
  • (0)
  Add to cart