Question : Matching Questions 83. Match the accounting terms with the description. : 1220448

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