How to calculate gross pay, routine deductions, and net pay for an employee.
1) Net pay is the same as
A) gross pay.
B) take home pay.
C) before taxes pay.
D) pay before deductions.
2) The form used to determine an employee's net claim code is called a
B) Record of Employment.
D) Employee Earnings Record
3) Starting in 2002, tax amounts for all provinces and territories in Canada (except Quebec) must be calculated based on
A) Federal Tax rates only.
B) Provincial/Territorial Tax rates only.
C) both Federal and Provincial/Territorial Tax rates.
D) the TONI Tax tables.
4) The automatic increase of claim amounts that account for inflation is called
A) cost of living increases.
5) All of the following are statutory payroll deductions EXCEPT
A) Income Tax.
B) Canada Pension Plan.
C) Employment Insurance.
D) Canada Savings Bond Payments.
6) If Bob Rice's hourly wage is $8.00 and he worked 35 hours during the week, what is his gross pay for the week?
7) Alice Green's hourly rate is $10.00, and she worked 44 hours during the week. Assuming an overtime rate of time and a half over 40 hours, Alice's gross pay is
8) The actual tax William pays for the year will be affected by
A) the amount of earnings he makes from all sources.
B) his charitable donations made.
C) any deductible tuition he has paid.
D) All of the above.
9) Which of the following is an optional payroll deduction?
A) Charitable Contributions
B) Income Taxes
C) Canada Pension Plan
D) Employment Insurance
10) Which of the following pays no CPP premiums this month?
A) A person under 18 years of age
B) A person over 70 years of age
C) A person earning less than $200 per month
D) All of the above.
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