100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Financial literacy Test Questions and Answers $8.49   Add to cart
Quickly navigate to
Preview
  2.  
  3. Financial Literacy
  4.  
  5. Financial Literacy

Exam (elaborations)

Financial literacy Test Questions and Answers
 6 views  0 purchase
  • Course
  • Financial Literacy
  • Institution
  • Financial Literacy

W-4 - Answer-A federal tax form filled out by an employee to indicate the amount that should be withheld from his/her paycheck for taxes. W-2 - Answer-A statement of an individual's annual wages and taxes provided by an employer that must be included with the employee's federal, state, and city ...

[Show more]

Preview 1 out of 2  pages

Document information

  • October 13, 2024
  • 2
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • financial literacy test questions and answers
  • w 4 answer a federal tax form filled out by an e

Written for

  • Financial Literacy
  • Financial Literacy

Seller

avatar-seller
lectknancy

Reviews received

Content preview

Financial literacy Test Questions and
Answers
W-4 - Answer-A federal tax form filled out by an employee to indicate the amount that
should be withheld from his/her paycheck for taxes.

W-2 - Answer-A statement of an individual's annual wages and taxes provided by an
employer that must be included with the employee's federal, state, and city income tax
returns.

Unemployment insurance - Answer-payments to people who lost their jobs; previous
employers make the payments.

Workers compensation - Answer-A form of insurance paid by the employer providing
cash benefits to workers injured or disabled in the course of employment.

Allowance - Answer-a reserve fund created by a charge against profits in order to
provide for changes in the value of a company's assets

Social security tax - Answer-A federal tax paid for old-age, survivors, and disability
insurance

Medicare tax - Answer-a federal tax paid for hospital insurance

Overtime pay - Answer-Required for nonexempt workers under FLSA at 1.5 times the
regular rate of pay for hours over 40 in a workweek

Filing status - Answer-determines the rate at which income is taxed. The five filing
statuses are: single, married filing a joint return, married filing a separate return, head of
household, and qualifying widow(er) with dependent child.

IRS - Answer-the bureau of the Treasury Department responsible for tax collections

Involuntary deductions - Answer-Payroll deductions such as tax levies and court-
ordered child support that an employee must pay

Voluntary deductions - Answer-Payroll deductions selected by the employee such as
charitable contributions

Unearned income - Answer-(accounting) income received but not yet earned (usually
considered a current liability on a company's balance sheet)

Non-Taxable income - Answer-Interest earned from mini bonds
life insurance death benefits

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 lectknancy. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $8.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

77988 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
$8.49
  • (0)
  Add to cart