BUSINESS ADMINISTRATION
BUSINESS MATHEMATICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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26
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24
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52
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12
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Detailed explanation-1: -Weekly – 52 pay periods per year (53 in leap years) Biweekly – 26 pay periods per year. Monthly payments – 12 pay periods per year. Semi-monthly payments – 24 pay periods per year.
Detailed explanation-2: -There are 26 pay periods in a year when your company runs payroll on a bi-weekly schedule. That is because there are 52 weeks in a year. If one period covers two weeks, 52 weeks divided by two weeks results in 26 two-week pay periods in a year.
Detailed explanation-3: -How do you calculate a pay period? Number of Pay Periods in the Year/Annual Salary = Gross Wages per Pay Period.
Detailed explanation-4: -A pay period is a time frame used to calculate earned wages and determine when employees receive their paychecks. Pay periods are fixed and most often recurring on a weekly, bi-weekly, semi-monthly or monthly basis.
Detailed explanation-5: -Employees receive 26 paychecks per year with a biweekly pay schedule. Depending on the calendar year, there are sometimes 27 pay periods, which can increase payroll costs. Both hourly and salaried employees may receive biweekly pay.