Q2-Q#2 Salaries and Wages

What is the money earned by an employee in a particular period?

• income

• compensation

• salary

• wage

Which refers to the employee’s earnings after deductions have been made by the employer?

• benefits

• net pay

• gross pay

• salary

This is a work arrangement where employees are paid based on their output.

• time-basis pay

• output-basis pay

• piece-rate pay

• output-rate pay

The employee holds a temporary position and employment ends when the project is finished.

• permanent

• job order

• contractual

• part-time

What do we call the Revenue Regulations No. 5-2011 issued by the Bureau of International Revenue (BIR)?

• De Minimize Benefits

• De Minimis Benefits

• De Minimis Benefit

• De Minimize Benefit

These are any goods or services furnished/granted in cash/kind by an employer to an individual employee.

• benefits

• fringe benefits

• non-taxable benefits

• bonus

Which is correct about salary and wage?

• Salary is employee’s earnings after deductions have been made while wage is employee’s earnings before deductions have been made.

• Salary is quoted hourly or daily while wage is quoted annually or monthly.

• Salary is employee’s earnings before deductions have been made while wage is employee’s earnings after deductions have been made.

• Salary is quoted annually or monthly while wage is quoted hourly or daily.

How many mandatory benefits are automatically deducted from an employee’s salary/wage?

• 2

• 3

• 4

• 5

This is a compulsory insurance system for workers in the government sector for separation, retirement, etc.

• SSS

• GSIS

• PhilHealth

• Pag-IBIG

Which is a national savings program for both private and public workers for hospitalization benefits?

• Withholding tax

• PhilHealth

• GSIS

• SSS