BUSINESS ADMINISTRATION
BUSINESS MATHEMATICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Detailed explanation-1: -A salary is a fixed amount of money an employee makes each year for work provided to their employer. In many cases, salaried employees aren’t eligible for overtime pay in the way hourly employees might be. But there are exceptions.
Detailed explanation-2: -Gross pay is what employees earn before taxes, benefits and other payroll deductions are withheld from their wages. The amount remaining after all withholdings are accounted for is net pay or take-home pay.
Detailed explanation-3: -Gross pay is the total amount of income you receive as wages before any taxes or other deductions are withheld by your employer. Deductions may include things like federal and state income tax withholding, employee benefit premiums like dental and health insurance, or 401(k) retirement account contributions.
Detailed explanation-4: -b. In arriving at AGI, personal and dependency exemptions must be subtracted from gross income.