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True or False

Gross income is the amount of money you earn before taxes
________________________

Net income is after taxes.
________________________

There are 24 pay periods in a year if you are paid monthly.
________________________

Regular or straight time pay is calculated by the hourly rate X hours worked.
___________________________

Piecework is when you are paid for each item of work that you do.
__________________________

Fill in the blank

When I earn extra money based on the amount I sell, this is called____________________________.

Overtime begins when a person works more than _____ hours per week.

Social Security, Federal , and ______________ taxes will be deducted from an employee’s paycheck.

Overtime Pay is an Act covered by ______________________________________________________.
Annual salary is calculated by dividing the salary by _____________________________________.

Respuesta :

Answer:

True

Step-by-step explanation:

Gross income is prior to any deductions, expenses, or other appropriations have been taken out.

2. True

Net income is after taxes

3. False

This would be biweekly if 24 payperiods

4. True

5. True

Fill in blank

1. Commission (I think)

2. 40

3. State

4. Dept of Labor; act is called Fair Labor Standards Act

5. Fair Labor Standards Act

6. if you need to know annual salary, then mulitply your gross income by the number of payperiods in one year, if you need to know your monthly salary then divide the annual salary by 12 to get monthly.

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