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A Nonexempt, Salaried Worker Who Received $46,500 in Annual Compensation

question 14

Multiple Choice

A nonexempt, salaried worker who received $46,500 in annual compensation for a 40-hour standard workweek has an hourly rate of ________. (Round to nearest cent)


Definitions:

Writing Checks

The act of completing a check by specifying the date, payee, and amount, and signing it, to instruct a bank to transfer funds.

Adjusted Cash Balance

The cash balance reported in a company's financial statement, modified for factors like outstanding checks or deposits in transit.

Bank Statement

A monthly or quarterly document provided by a bank summarizing the transactions, including deposits and withdrawals, that occurred in a specific account.

Service Charge

A fee collected to pay for services related to the primary product or service being purchased.

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