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Final Review

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
show False  
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2. Groups of similar occupations across the nation are called clusters.   show
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3. Supply and demand for workers in an occupation generally remain constant within the economy.   show
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4. Examples of employee expenses include parking costs and buying uniforms.   show
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show True  
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6. Both businesses and workers must continually reinvent themselves to meet changing market needs.   show
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show False  
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show False  
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show False  
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show False  
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show True  
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show True  
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13. A Form W-2 shows only the amount of federal income tax withheld by an employer.   show
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show False  
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show False  
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16. Employers must pay all employees overtime at the rate of 1 1/2 times the regular rate.   show
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show True  
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18. Employers must contribute matching amounts into each employee’s Medicare and Social Security accounts.   show
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19. Self-employed people do not need to pay Social Security or Medicare taxes.   show
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20. An employee required to work on a paid holiday is usually paid 1 1/2 times his or her regular hourly rate of pay.   show
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show True  
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show True  
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23. A set of goals for spending, saving, and investing the money you receive is called a budget.   show
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show True  
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show False  
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show False  
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show True  
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show False  
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show True  
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show False  
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31. Never sign a contract until you have read and understood it.   show
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show False  
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33. Only people with considerable wealth need to create a personal record keeping system.   show
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34. One big advantage of computerized record keeping is that information can be updated quickly and easily.   show
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show True  
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36. Floating a check is illegal in most states.   show
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show True  
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38. Paying bills online is generally considered slower and riskier than writing checks.   show
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show True  
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40. The column headed by a check mark in a checkbook register is so you can make a note of your checks that have bounced.   show
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41. You should reconcile your checking account as soon as you receive your bank statement.   show
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show False  
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43. A joint checking account can be opened by two or more people.   show
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44. A money order can never bounce.   show
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show False  
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46. For safety, do not carry your PIN in written form; instead, commit it to memory.   show
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47. The usual reason for a stop-payment order is that the check has been lost or stolen.   show
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show True  
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Created by: stevenmziray832