True/False
Indicate whether the
sentence or statement is true or false.
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1.
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To determine your gross pay when you receive an hourly wage, you multiply your
hourly rate by the number of regular hours worked.
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2.
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Annual salary refers to the amount of monthly pay to be received.
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3.
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Overtime wages are usually calculated at twice the regular hourly rate.
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4.
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Social security tax is an example of an optional deduction from your
paycheck.
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5.
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The amount left after all deductions have been subtracted from gross pay is
known as net pay.
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6.
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The more allowances claimed on your Form W-4, the less tax withheld from your
gross pay.
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7.
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Although some workers do not belong to unions, it is generally true that they
benefit because of the existence of unions.
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8.
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Teachers belong to craft unions.
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9.
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Profit sharing is not considered an incentive to improve performance.
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10.
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Telecommuting allows employees to complete job tasks at home.
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11.
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An explanation of pay computations and deductions must be provided with each
paycheck.
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12.
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Health insurance pays a cash benefit when the insured dies.
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13.
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Some types of deductions may be withheld from your paycheck without written
consent.
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14.
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The American Bar Association is a professional organization for lawyers and
doctors.
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15.
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Lobbying is a legal activity engaged in by many unions and professional
organizations.
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Multiple Choice
Identify the
letter of the choice that best completes the statement or answers the question.
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16.
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Which of the following is not considered a required deduction?
a. | federal income tax | c. | state tax | b. | savings deposits | d. | social security
tax |
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17.
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What federal legislation required employers of fifty or more employees to give
twelve weeks of unpaid leave for the birth or adoption of a child?
a. | Taft-Hartley Act | c. | National Labor Relations Act | b. | Labor Management
Relations Act | d. | Family and
Medical Leave Act |
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18.
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A company plan whereby employees receive a portion of the earnings of the
company is called
a. | profit sharing | c. | sick pay | b. | leave of absence | d. | retirement plan |
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19.
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A company allowance for full-time employees whereby they are paid even though
they are absent for a set number of days is called
a. | profit sharing | c. | sick pay | b. | leave of absence | d. | retirement plan |
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20.
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Through _________, concession and compromise are attained with the help of a
neutral third party.
a. | lobbying | c. | collective bargaining | b. | seniority | d. | mediation |
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21.
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The major function of labor unions is to
a. | recruit new members | c. | provide support services for members | b. | oversee collective
bargaining | d. | lobby |
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22.
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The right of a person hired first to be fired last is called
a. | a fringe benefit | c. | seniority | b. | sick leave | d. | a work
incentive |
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23.
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When employers and union officials cannot agree on the terms of a new labor
contract, the result is often
a. | a violation | c. | overtime | b. | a strike | d. | fringe benefits |
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24.
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The amount of your take-home pay is also known as
a. | gross pay | c. | net pay | b. | deductions | d. | optional
deductions |
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25.
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Which of the following workplace trends allows flexibility for employees in work
hours?
a. | job rotation | c. | permanent part-time | b. | job sharing | d. | flextime |
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