ACNT: Ch 07 Quiz
If Robert worked 38hours, how many hours of overtime will Robert earn?
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FICA taxes provide funding to the government to pay:
All of the above are correct. FICA taxes support both disability benefits, medical benefits (through Medicare), and retirement benefits for eligible individuals
A pay period is defined as:
All of the above are correct: A. monthly. B. weekly. C. biweekly.
Marital status for an employee determines how much will be withheld from their paycheck for:
Both A and B are correct. FICA Medicare and FICA Social Security.
The Federal Insurance Contributions Act is better known as:
FICA.
There are two parts to FICA:
Social Security and Medicare.
The Fair Labor Standards Act must be followed if:
The correct answer is that the Fair Labor Standards Act (FLSA) must be followed by employers based on its provisions, which include minimum wage, overtime pay, recordkeeping, and youth employment standards. The FLSA applies to employees in the private sector and in federal, state, and local governments.
A company can deem an employee as salaried:
if the employee meets the salaried laws under the Fair Labor Standards Act.
Gross Earnings are the same as:
regular earnings + overtime earnings.
Under the Fair Labor Standards Act, for any hours that an employee works over 40 during a work week:
the employee is paid time and a half.
