5
QuizMultiple Choice
Gross Pay vs. Net Pay
Question 5 • 26.27 TCEC FINANCIAL LIT
The following federal tax table is for biweekly earnings of a single person. A single person earns a gross biweekly salary of $840 and claims 5 exemptions. How will federal taxes affect his net pay?
Answer
A
Federal taxes will not affect the net pay.B
Net pay will increase $11 from the gross pay.C
Net pay will decrease $11 from the gross pay.D
Net pay will decrease $13 from the gross pay.