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:

Learning Organization

An organization that is skilled at creating, acquiring, and transferring knowledge and at modifying behavior to reflect new knowledge and insights.

Supervisory Training

Education or coaching geared towards equipping individuals with the knowledge and skills needed to oversee and guide a team effectively.

Top-Management Team

A group of high-ranking executives who are responsible for managing the overall operations and strategic direction of a company or organization.

Strategic Intent

The long-term vision or direction of an organization that guides its strategic planning and operational decisions.