Match the Terms with the Definitions

question 90

Multiple Choice

Match the terms with the definitions.
-Someone who works under the control and direction of an employer.

• 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:

Retailer

A business or person that sells goods directly to consumers from a physical or online store.

Periodic Inventory System

An accounting method that records inventory purchases and sales periodically, often at the end of an accounting period, instead of continuously updating stock levels.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including materials, labor, and overhead.

Accounting Period

The specific time period during which financial transactions are recorded and financial statements are prepared, typically a quarter or a year.