Match the Terms with the Definitions

question 78

Multiple Choice

Match the terms with the definitions.
- Exempts a specific dollar amount of an employee's gross pay from federal income tax withholding.

• A)direct deposit
• B)electronic system
• C)employee
• D)employee earnings record
• E)Fair Labor Standards Act (FLSA)
• F)FICA taxes
• G)gross pay
• H)independent contractor
• I)manual system
• J)net pay
• K)payroll processing center
• L)payroll register
• M)salary
• N)wage-bracket method
• O)wages
• P)withhol ding allowance

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Definitions:

Equilibrium Quantity

The quantity of goods or services that is supplied and demanded at the equilibrium price, where market supply and demand balance each other.

External Benefits

Positive effects experienced by individuals or groups who did not directly participate in the actions that produced those benefits.

Resources

Assets, materials, and inputs needed for the production of goods and services, including natural, human, and capital resources.