An Employee's Net Pay Consists of Gross Pay Less Mandatory

question 129

Essay

An employee's net pay consists of gross pay less mandatory and voluntary payroll deductions. Identify the mandatory payroll deductions and give two or three examples of common voluntary deductions. Are these deductions recognized as payroll expenses by the employer? What type of payroll expenses does the employer incur related to having a payroll?

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Definitions:

Adaptive Smoothing

An approach to exponential smoothing forecasting in which the smoothing constant is automatically changed to keep errors to a minimum.

Bias

A forecast that is consistently higher or consistently lower than actual values of a time series.

Seasonally-Adjusted Sales Forecast

A prediction of future sales that has been modified to account for regular seasonal variations in demand or sales patterns.

Complementary Demands

A market condition where the demand for two or more goods is linked because the goods are used together, leading to a rise in demand for one affecting the other positively.