Matching Questions
83.
Match the accounting terms with the description.
1. Time and a half
A method of paying employees according to a percentage of net sales
2. Workers’ compensation insurance
Another name for individual earnings record
3. Hourly rate basis
A person who is hired by and works under the control and direction of the employer
4. Piece-rate basis
A form used to claim exemption (withholding) allowances
5. Wage-bracket table method
Salaried employees who hold supervisory or managerial positions who are not subject to the maximum hour and overtime pay provisions of the Wage and Hour Law
6. Social Security Act
Taxes levied by the federal government against employers to benefit unemployed workers
7. Medicare tax
A method of paying employees according to a stated rate per hour
8. Employee’s withholding allowance certificate (Form W-4)
One who is paid by a company to carry out a specific task or job but is not under the direct supervision or control of the company
9. Tax-exempt wages
An employee record that contains information needed to compute earnings and complete tax reports
10. Payroll register
A tax levied on employees and employers to provide medical care for the employee and the employee’s spouse after each has reached age 65
11. Employee
A record of payroll information for each employee for the pay period
12. Social Security (FICA) Tax
A method of paying employees according to the number of units produced
13. Independent contractor
A method of paying employees according to an agreed-upon amount for each week or month
14. Salary basis
A federal act providing certain benefits for employees and their families; officially the Federal Insurance Contributions Act
15. Individual earnings record
A tax imposed by the Federal Insurance Contributions Act and collected on employee earnings to provide retirement and disability benefits
16. Exempt employees
Taxes levied by a state government against employers to benefit unemployed workers
17. Compensation record
Earnings in excess of the base amount set by the Social Security Act
18. Commission basis
Rate of pay for an employee’s work in excess of 40 hours a week
19. State unemployment taxes
A simple method to determine the amount of federal income tax to be withheld using a table provided by the government
20. Federal unemployment taxes
Insurance that protects employees against losses from job-related injuries or illnesses, or compensates their families if death occurs in the course of the employment
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