Use the Stored Data System to Prevent the Mistake That

question 68

True/False

Use the stored data system to prevent the mistake that the intended number 53411 is typed in as number 54311 instead.

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Definitions:

Take-Home Pay

The net amount of income an employee actually receives after deductions such as taxes and retirement contributions.

Voluntary Deductions

Deductions from an employee's paycheck that the employee chooses to have withheld for benefits such as retirement plans, health insurance, and union dues.

Gross Pay

The total earnings of an employee for a payroll period.

FICA Taxes

Taxes required by the Federal Insurance Contributions Act, funding Social Security and Medicare, deducted from employees' paychecks and matched by employers.