NCVPS FM Unit 2 review

Flashcard
•
Mathematics
•
9th - 12th Grade
•
Hard
+12
Standards-aligned
Wayground Content
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15 questions
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1.
FLASHCARD QUESTION
Front
What is NC state tax?
Back
A tax imposed by the state of North Carolina on income earned by residents.
2.
FLASHCARD QUESTION
Front
How is NC state tax calculated?
Back
It is typically calculated as a percentage of an individual's gross income.
Tags
CCSS.8.F.B.4
CCSS.HSF.IF.B.6
3.
FLASHCARD QUESTION
Front
What is a pay period?
Back
The amount of time for which your wages are calculated.
4.
FLASHCARD QUESTION
Front
What is gross pay?
Back
The amount of money you earn before any deductions.
5.
FLASHCARD QUESTION
Front
What is net pay?
Back
The amount of money you take home after all deductions are made.
6.
FLASHCARD QUESTION
Front
What is FICA?
Back
Federal Insurance Contributions Act; a federal payroll tax that funds Social Security and Medicare.
7.
FLASHCARD QUESTION
Front
How is FICA calculated?
Back
It is calculated as a percentage of an employee's gross pay.
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