Asked by
Valeria Salerno
on Nov 15, 2024
Verified
Net pay equals:
A) gross pay less all deductions.
B) regular earnings + overtime earnings.
C) gross earnings less federal and state withholding tax.
D) net earnings + overtime earnings greater than the amount withheld from the employee.
Gross Pay
The gross income of an employee, which is the sum of all earnings before deductions or taxes are applied.
Deductions
Expenses or amounts subtracted from gross income to reduce the taxable income.
- Understand the formulas for calculating net pay and gross pay.
Verified Answer
SR
Learning Objectives
- Understand the formulas for calculating net pay and gross pay.