Exam (elaborations)
MRTS 1342 Exam 2 | Questions And Answers Latest {} A+ Graded | 100% Verified
- Course
- Institution
MRTS 1342 Exam 2 | Questions And Answers Latest {} A+ Graded | 100% Verified
[Show more]
Content preview
MRTS 1342 Exam 2 | Questions And Answers Latest {2024- 2025} A+ Graded | 100%Verified
What are endorsements - -where you sign the check (blank, special, qualified, restrictive)
define payee - one to whom the check is payable, a person or company who will receive payment on a
promissory note, check, draft or money order
Define outstanding check - check not yet presented to the bank for payment or deducted from the bank
balance
Deposit in transit - -deposits not yet added to the bank balance
Service Charge - a fee a bank charges for handling a checking account
NSF - non sufficient funds, check that has been returned, drawer did not have enough $ to pay check
What is the petty cash fund - -an asset on the balance sheet, dedicated to paying small expenses
Overtime pay and federal law - -time and one half, over 40 hours, seven-day period
Purpose of social security - a contributory welfare program into which working Americans contribute a
percentage of their wages and from which they receive cash benefits after retirement or if they become
disabled
federal income tax supports what? - -federal budget, federal programs
Workers' compensation - -insurance that provides benefits to employees who suffer work related
injuries or illnesses
Difference between Net and gross pay - -Net- take home $ after all deductions
The benefits of buying summaries with Stuvia:
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
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
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 oneclass. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.48. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75323 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now