Asked by Isabella Pucci on Jun 10, 2024
Verified
Employers keep employee earnings reports which include a cumulative record of an employee's hours worked,gross earnings,deductions,and net pay.
Gross Earnings
The total amount of income earned by an individual or entity before any deductions or taxes are applied.
Deductions
Amounts subtracted from gross income to reduce taxable income, including expenses, allowances, or certain types of losses.
- Determine the responsibilities tied to employment, including those related to payroll and benefits.
Verified Answer
GB
Gurpriya BansiJun 14, 2024
Final Answer :
True
Explanation :
This is true, employers are required to keep records of their employees' earnings including hours worked, gross earnings, deductions, and net pay, as a part of their payroll and accounting processes.
Learning Objectives
- Determine the responsibilities tied to employment, including those related to payroll and benefits.
Related questions
Required Payroll Deductions Include Pension and Health Contributions,union Dues,and Charitable ...
The Entry to Record the Accrual of the Employer's Payroll ...
The Journal Entry to Record the Monthly Payroll on April ...
What Is True Regarding FUTA ...
A Current Liability Is a Debt That Can Be Expected ...