7.5 Employment and Paystub Statistics Quiz

Approximately how many Americans say their paystub is hard to read?

• 0

• 60 million

• Just the ones who didn't take this Financial Lit course!

How many US workers have experienced paycheck errors according to the survey?

• none

• 82 million

• 10 billion

What will students demonstrate an understanding of according to the objectives?

• The history of paychecks

• The terms associated with a paycheck

• How to write a paycheck

• The benefits of direct deposit

What will students understand according to the objectives?

• How to increase paycheck amounts

• How to negotiate salary

• The systematic deductions removed from a paycheck

• The process of receiving a bonus

What percentage of an individual's paycheck is typically deducted for taxes?

• 0%

• 31%

• 100%

Why is it important to understand systematic deductions from a paycheck?

• To increase your paycheck

• To avoid paying taxes

• Because taxes are the largest expense for most individuals

• To receive a tax refund

How does the U.S. tax system operate in terms of payment?

• Taxes are paid annually

• Taxes are paid monthly

• Taxes are paid immediately on income earned

• Taxes are paid every five years

What form must an employee complete to verify employment eligibility?

• Form W-4

• Form I-9

• Form 1040

• Form 1099

What is the purpose of completing a Form W-4?

• Employment Eligibility Verification

• Employee’s Withholding Allowance Certificate

• Tax Return Filing

• Health Insurance Enrollment

Which of the following documents can be used to establish identity and employment eligibility for Form I-9?

• Library card

• Credit card

• Driver's license

• Gym membership