understanding paychecks & pay stubs

Name Date Final Assessment Understanding a Paycheck and Pay Stub Answer each question completely. 1. Explain the difference between gross pay and net pay. 2. Explain what deductions are and how they affect a worker's paycheck. 3. What is a basic definition of disposable income? 4. List two deductions that are mandatory. 2L 2. Fill-Ins: Complete each sentence with the correct term. gross pay net pay overtime deduction disposable income pay stub 5. A is any amount of money subtracted from your check. 6. A explains how much money was earned and the types of deductions and amounts withheld from a worker's paycheck. 7. is time worked beyond an employee's regular hours. 8. the amount of money you earn before deductions are subtracted. 9. is the amount of money you earn after deductions are subtracted. 10. the amount of money remaining after taxes have been deducted that a person can spend as he/she wishes. Caffei ne 0 Teacher 14