Matching
Match each of the appropriate definitions with correct term.
Premises:
A record for a pay period that shows the pay period dates, regular and overtime hours worked, gross pay, net pay and deductions.
Liabilities due within one year or the company's operating cycle, whichever is longer.
A calculation of a company's ability to pay interest when due.
A special bank account used solely for paying employees; each pay period an amount equal to the total employees' net pay is deposited and the employees' payroll checks are drawn on that account.
A bank authorized to accept deposits of amounts payable to the federal government, including payroll taxes.
Employee withholdings and equal employer taxes, paid to cover medical benefits.
Compensation provided to employees beyond salaries and wages, such as premiums for medical insurance and contributions to pension plans.
Total compensation earned by an employee.
A seller's obligation to replace or fix a product or service that fails to perform as expected within a specified period.
A written promise to pay a specified amount on a stated future date within one year or the company's operating cycle, whichever is longer.
Responses:
Federal depository bank
Payroll register
Short-term note payable
Warranty
Employee benefits
Payroll bank account
Times interest earned
Medicare taxes
Current liabilities
Gross pay
Correct Answer:
Premises:
Responses:
A record for a pay period that shows the pay period dates, regular and overtime hours worked, gross pay, net pay and deductions.
Liabilities due within one year or the company's operating cycle, whichever is longer.
A calculation of a company's ability to pay interest when due.
A special bank account used solely for paying employees; each pay period an amount equal to the total employees' net pay is deposited and the employees' payroll checks are drawn on that account.
A bank authorized to accept deposits of amounts payable to the federal government, including payroll taxes.
Employee withholdings and equal employer taxes, paid to cover medical benefits.
Compensation provided to employees beyond salaries and wages, such as premiums for medical insurance and contributions to pension plans.
Total compensation earned by an employee.
A seller's obligation to replace or fix a product or service that fails to perform as expected within a specified period.
A written promise to pay a specified amount on a stated future date within one year or the company's operating cycle, whichever is longer.
Premises:
A record for a pay period that shows the pay period dates, regular and overtime hours worked, gross pay, net pay and deductions.
Liabilities due within one year or the company's operating cycle, whichever is longer.
A calculation of a company's ability to pay interest when due.
A special bank account used solely for paying employees; each pay period an amount equal to the total employees' net pay is deposited and the employees' payroll checks are drawn on that account.
A bank authorized to accept deposits of amounts payable to the federal government, including payroll taxes.
Employee withholdings and equal employer taxes, paid to cover medical benefits.
Compensation provided to employees beyond salaries and wages, such as premiums for medical insurance and contributions to pension plans.
Total compensation earned by an employee.
A seller's obligation to replace or fix a product or service that fails to perform as expected within a specified period.
A written promise to pay a specified amount on a stated future date within one year or the company's operating cycle, whichever is longer.
Responses:
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