What Do You Already Know About Payroll?
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What is a wage?
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The lowest possible amount of money an employer can pay me
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Money paid in return for work at an hourly rate
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The employer pays me for the hours they think I have worked
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Introductory quiz to establish what adult learners already know about payroll processes.
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- 2.
What is a salary?
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Lots of money paid to managers and the high ups in the company
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Money paid in return for working regular hours
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The same amount of money paid regularly in return for work provided on a regular basis - a yearly amount paid usually fortnightly or monthly
Correct Answer
A. The same amount of money paid regularly in return for work provided on a regular basis - a yearly amount paid usually fortnightly or monthlyExplanation
A salary refers to the same amount of money that is paid regularly to an employee in exchange for their work provided on a regular basis. This payment is usually made on a fortnightly or monthly basis and is typically calculated on an annual basis. The answer accurately describes the concept of a salary and distinguishes it from other forms of compensation such as bonuses or incentives.Rate this question:
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- 3.
What is the Superannuation?
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Money I should put aside for my old age - it is my responsibility
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An involuntary payment made on my behalf by my employer to a registered superannuation fund
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The employer can decide whether to pay my superannuation each pay - it is up to them
Correct Answer
A. An involuntary payment made on my behalf by my employer to a registered superannuation fundExplanation
The correct answer is "An involuntary payment made on my behalf by my employer to a registered superannuation fund." This means that the employer is required to contribute a certain amount of money to a registered superannuation fund on behalf of the employee. It is not the employee's responsibility to contribute to the fund, but rather the employer's obligation.Rate this question:
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- 4.
What is a TFN (Tax File Number)?
- 5.
What does PAYG mean?
Quiz Review Timeline (Updated): Mar 21, 2023 +
Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.
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Current Version
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Mar 21, 2023Quiz Edited by
ProProfs Editorial Team -
Jun 02, 2010Quiz Created by
Isobelleb
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