Match each of the voluntary deductions listed with the correct definition. 1: Match each of the voluntary deductions listed with the correct definition. State disability insurance 401(k) Payroll deduction IRA Cafeteria plan Charitable contribution DROP HERE DROP WERE DROP WERE DROP VERE DPOP-VERE Provides short-term benefits to employees who are unable to work as a result of an off-the-job circumstance. Employees may be required to contribute toward this in certain states. A defined-contribution retirement plan under which a set amount may be withheld from gross earnings each pay period. These funds are tax-deferred. A retirement plan option often utilized by individuals who are self-employed. It is perhaps the simplest retirement option. These are often matched by the employer, thereby magnifying the benefit to the organization receiving the funds. These amounts are subject to federal income tax withholding. A group of benefits offered by employers. To offer this, employers must give each employee a choice of at least one taxable option and one non-taxable option.
Match each of the voluntary deductions listed with the correct definition. 1: Match each of the voluntary deductions listed with the correct definition. State disability insurance 401(k) Payroll deduction IRA Cafeteria plan Charitable contribution DROP HERE DROP WERE DROP WERE DROP VERE DPOP-VERE Provides short-term benefits to employees who are unable to work as a result of an off-the-job circumstance. Employees may be required to contribute toward this in certain states. A defined-contribution retirement plan under which a set amount may be withheld from gross earnings each pay period. These funds are tax-deferred. A retirement plan option often utilized by individuals who are self-employed. It is perhaps the simplest retirement option. These are often matched by the employer, thereby magnifying the benefit to the organization receiving the funds. These amounts are subject to federal income tax withholding. A group of benefits offered by employers. To offer this, employers must give each employee a choice of at least one taxable option and one non-taxable option.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please match the voluntary deductions listed with the correct definition.
Transcribed Image Text:Match each of the voluntary deductions listed with the correct definition.
1: Match each of the voluntary deductions listed with the correct definition.
State disability insurance
401(k)
Payroll deduction IRA
Cafeteria plan
Charitable contribution
DROP HERE
DROP WERE
DROPWERE
DROP VERE
DROP-VERE
Provides short-term benefits to employees who are unable
to work as a result of an off-the-job circumstance.
Employees may be required to contribute toward this in
certain states.
A defined-contribution retirement plan under which a set
amount may be withheld from gross earnings each pay
period. These funds are tax-deferred.
A retirement plan option often utilized by individuals who
are self-employed. It is perhaps the simplest retirement
option.
These are often matched by the employer, thereby
magnifying the benefit to the organization receiving the
funds. These amounts are subject to federal income tax
withholding.
A group of benefits offered by employers. To offer this,
employers must give each employee a choice of at least
one taxable option and one non-taxable option.
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