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Unit 2

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
        Help!  

Question
Answer
The total amount earned for work provided   Gross Earnings  
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Money withheld from the employee's salary and deposited to the employer's tax account   Federal Depositary  
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Compensation for services minus any deductions   Net earnings  
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Social Security Tax   FICA  
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Person transfering ownership of the check by signature   Endorser  
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Amounts for taxes and Social Security which are withheld from every employee's pay   Payeroll Deductions  
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Statement sent by the bank to the customer showing the status of the account   Bank Statement  
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Compenstation for services or work provided for a specific period of time   Salary  
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Balancing of a checkook with a bank statement   Reconciliation  
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The threat to take action that cannot be taken legally   Fair debt collection act  
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A locked fire proof box used to hold valuables   Safe box deposit  
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Made out by an unknown individual to the patient   Third party check  
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check made payable to the bearer, the payee signs their own name   Blank endorsement  
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Words specifying the person to whom the check is payable   Special endorsement  
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Measures how fast outstanding accounts are paid   Accounts receivable ratio  
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Form filled out by an employee authoring payroll deductions   W4  
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A banks own check signed by the bank for an amount drawn against the person's own account   Cashier's check  
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notice of amount owed   Statement  
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Purchased at a store for the face value, plus a fee used like a check   Money order  
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Non sufficient funds; not enough money in the bank to cover the check   NSF  
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Created by: nioshabrown0602
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