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ay V. EVALUATION Test I. Directions: Read each question and choose the best answer. Encircle the answer of your choice Each item is worth 1 point. 1. Regular employees receive salaries and are paid: 1. monthly 11. Semi-monthly III. Hourly b. ll only c. I and Il only a. I only d. I, II, and in 2. Laborers receive wages on a/an: 1. Hourly rate II. Per unit basis b. ll only a. I only III. Monthly basis c. lll only d. 1, II, and it 3. Minimum wage earners are exempt from income tax on: a. Minimum wage c. Overtime Pay b. Holiday Pay d. All of the above 4. Which of the following is allowed as a payment for salaries and wages of employees and laborers? a. Vouchers c. Promissory notes b. Checks d. Gift certificate 5. Which of the following is not consider as Gross Income? a. Salary c. Inheritance b. Money won from Lottery d. None of the above