TRUE OR FALSE Overtime pay is part of deductions. 7. Taxes are added in the deductions. 8. Other benefits and payment of loans are deducted from the gross earnings. 9. If the total deduction is 0, then it follows that gross earnings is non-taxable. _10. If the gross deductions is more than the net earnings, then the net earnings is more than half of the gross earnings. 11. If total earnings is thrice of the deduction, then the net pay is twice of the deduction. _12. The sum of the deduction to and net pay sometimes equal to the total earnings. _13. If the total earnings is total to the deduction, then the net pay is twice as much as the deduction. _14. All wage earners can avail all benefits of a wage earner. _15. The total earnings of any employee is not always equal to the basic pay. _16. An employer can give 14th month pay to all of his employees that is equivalent to the 13th month pay. _17. Living allowance is a must benefits given to all employees. 18. A pregnant employee may not be qualified for a maternity leave benefit. _19. Retirement benefit can only be availed if the age of an employee is more than or equal to 60 years old. _20. Tax exemption benefit to minimum wage earner are only limited to basic salary, including allowances.
TRUE OR FALSE Overtime pay is part of deductions. 7. Taxes are added in the deductions. 8. Other benefits and payment of loans are deducted from the gross earnings. 9. If the total deduction is 0, then it follows that gross earnings is non-taxable. _10. If the gross deductions is more than the net earnings, then the net earnings is more than half of the gross earnings. 11. If total earnings is thrice of the deduction, then the net pay is twice of the deduction. _12. The sum of the deduction to and net pay sometimes equal to the total earnings. _13. If the total earnings is total to the deduction, then the net pay is twice as much as the deduction. _14. All wage earners can avail all benefits of a wage earner. _15. The total earnings of any employee is not always equal to the basic pay. _16. An employer can give 14th month pay to all of his employees that is equivalent to the 13th month pay. _17. Living allowance is a must benefits given to all employees. 18. A pregnant employee may not be qualified for a maternity leave benefit. _19. Retirement benefit can only be availed if the age of an employee is more than or equal to 60 years old. _20. Tax exemption benefit to minimum wage earner are only limited to basic salary, including allowances.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
TRUE OR FALSE
Overtime pay is part of deductions.
7. Taxes are added in the deductions.
8. Other benefits and payment of loans are deducted from the gross earnings.
9. If the total deduction is 0, then it follows that gross earnings is non-taxable.
_10. If the gross deductions is more than the net earnings, then the net earnings is more than half of the gross earnings.
11. If total earnings is thrice of the deduction, then the net pay is twice of the deduction. _12. The sum of the deduction to and net pay
sometimes equal to the total earnings. _13. If the total earnings is total to the deduction, then the net pay is twice as much as the deduction.
_14. All wage earners can avail all benefits of a wage earner.
_15. The total earnings of any employee is not always
equal to the basic pay. _16. An employer can give 14th month pay to all of his employees that is equivalent to the 13th month pay.
_17. Living allowance is a must benefits given to all employees.
18. A pregnant employee may not be qualified for a maternity leave benefit.
_19. Retirement benefit can only be availed if the age of
an employee is more than or equal to 60 years old. _20. Tax exemption benefit to minimum wage earner are only limited to basic salary, including allowances.
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