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Cfl Test Unit 1 Questions And Answers With Verified Solutions 100% Correct Rated A+

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CFL TEST UNIT 1 QUESTIONS AND ANSWERS WITH VERIFIED SOLUTIONS 100% CORRECT RATED A+

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CFL TEST UNIT 1 QUESTIONS AND
ANSWERS WITH VERIFIED SOLUTIONS
100% CORRECT RATED A+
Allowances - ANSWER✔✔reductions in the amount of tax withheld from your
paycheck


Direct deposit - ANSWER✔✔An automatic deposit of a paycheck without having
to take a physical check to the bank.


Federal Income Tax - ANSWER✔✔A payroll deduction collected by employers
by law and sent to the federal government to support governmental programs.


FICA - ANSWER✔✔Federal Insurance Contributions Act; tax levied on both
employers and employees to pay for Social Security and medicare


How do you determine dependent or independent? - ANSWER✔✔The IRS defines
a dependent as a qualifying child (under age 19 or under 24 if a full-time student,
or any age if permanently and totally disabled) or a qualifying relative.


Medicare - ANSWER✔✔A federal program of health insurance for persons 65
years of age and older


owed money - ANSWER✔✔Money that one has to pay back


Paper paycheck - ANSWER✔✔Payment given with a paper check with a
paycheck stub attached

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