Which of the Following Is the Correct Sequence for Computing

question 53

Multiple Choice

Which of the following is the correct sequence for computing net pay?

• A)Compute gross pay then deduct withholding and add FICA taxes to obtain net pay.
• B)Compute gross pay,compute FICA,deduct pre-tax amounts,and deduct taxes.
• C)Compute gross pay,deduct taxes,and add voluntary deductions.
• D)Compute gross pay,deduct pre-tax amounts,compute FICA,deduct taxes,and deduct post-tax amounts.

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Definitions:

Gainsharing

A performance-based compensation strategy that rewards employees for contributing to the company's success through efficiencies and improvements.

Group Incentive Plan

A compensation system designed to reward a group of employees based on the collective achievements or performance of the group.

Retention Bonus

A financial incentive offered to an employee to encourage them to stay with the company for a specified period.

Retention Bonuses

Financial incentives offered to employees to encourage them to stay with the company for a specified period.