 In this presentation, we will take a look at multiple choice questions related to payroll. First question. Which has 24 pay periods in a year? A, weekly, B, bi-weekly, C, semi-monthly, and D, semi-weekly. So, which has 24 pay periods in a year? We'll go through the process of elimination. We're talking about the types of pay periods. Remember, if we are paying employees, we could pay them typically, weekly, monthly, bi-weekly, or semi-monthly. And so, we're going to go through, which of those then would be 24 pay periods in a year? So, we get 24 paychecks in essence, or we're paying, or the employer, we're paying 24 paychecks. So, if we think go through these, one, weekly, are there 24 pay periods if we pay every week? It should be more than that. We should, and you should just know, weekly means 52, because there's 52 weeks. So, we got to just, that's one of those payroll type numbers that we need to know that may be not known by most folks. But for payroll people, she'd probably know 52 weeks about in a year. B says bi-weekly, and C says semi-monthly. That's really where the problem is, because those both sound similar, very similar. And then D, rather than saying monthly, which is the other payroll period, says semi-weekly, which isn't really a thing normally. That's not like normal. So, we're going to say that D is probably not it. It's probably going to be between B and C. So, question one more time, or once again, will be, which has 24 pay periods in a year? Is it bi-weekly or semi-monthly? And the way to think about this, typically, for the way I would think about it, which is clearly the best way, would be that, I mean, if we're saying semi-monthly, there's 12 months in a year. And if we pay 15 and the 30 is on the 15th and the 30th every month, that's two times a month. So, 12 times two would be 24. And so, that would be the 24. As opposed to, if we pay every other week, then it's not necessarily two pay periods in a month. It's paid every other week, which would be better thought of as 52 weeks in a year. That's why it's important to know that number, divided by two, because we get paid every two weeks, which is 26. So, this is different between 26 and 24. Semi-monthly, then, the correct answer is 24, as opposed to bi-weekly, the wrong answer, which is 26 pay periods. Next question, which has 12 pay periods in a year? A, weekly, B, bi-weekly, C, semi-monthly, D, monthly. So, we'll go through this again, which has 12 pay periods in a year? Now, this one is pretty straightforward, unless we didn't understand the question. Like, if we don't know what a pay period is, or something like that, I mean, what we're saying is which of these would result in us paying payroll, giving paychecks out to the employees, or doing it electronically, or however we do it, 12 times a year. Would it be weekly? There's 52 weeks in a year, so that would be, that doesn't sound right, bi-weekly. Even if we don't really understand bi-weekly or semi-monthly, you know, there's more than 12 of them if we get, if we pay every other week, or if we pay twice a month. So, that seems, 12 seems awfully low. So, monthly clearly is, is the answer here, because there's 12 months in a year, and if we pay monthly, then there would be 12 pay periods. Therefore, the correct answer, which has 12 pay periods in a year? D, monthly. End simulation, end the simulation!