A ________ Is a Check That Is Written on Behalf

question 108

Multiple Choice

A ________ is a check that is written on behalf of a person for a fixed amount that is paid in advance.

• A) cashier's check
• B) money order
• C) traveler's check
• D) personal check

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Definitions:

Withholding Taxes

Taxes that employers deduct from employees' wages and pay directly to the government as a part of income tax obligations.

Net Pay

The amount of money an employee receives after all deductions, such as taxes and retirement contributions, have been subtracted from their gross pay.

Allowances

Reductions from the list price of goods or services, granted for various reasons such as defects or customer dissatisfaction.

Wage Base Limit

The maximum amount of income on which employees are required to pay certain taxes, such as social security taxes.