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DSST Business Math: Salaries Vocab

Instructions:
  • Answer 50 questions in 15 minutes.
  • If you are not ready to take this test, you can study here.
  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. An allowance for a person used to reduce the amount of tax withheld from pay






2. An amount of money that you are paid for selling a product or service.






3. Offers a different rate of commission for each of several levels of sales.






4. A tax rate that stays the same for every person regardless of the amount of income they make in a year






5. System in which commission is only pay






6. Subtracts from gross pay for yourself and other people you support.






7. When there is a different tax rate for each of several levels of income.






8. Who work for others






9. A tax term meaning gross income less adjustments






10. 1 1/2 times your regular hourly rate.






11. Amount of tax withheld a year.






12. The remaining pay after deductions have been subtracted from total or gross wages; take-home pay






13. The amount of money you earn per hour.






14. An employee who is needed and paid by the day.






15. A deduction from pay for income tax






16. A fixed amount that can be deducted from a taxable income. used in place of itemized deductions.






17. When you work more than your regular hours.






18. 12 pay periods.






19. Shows the time you reported for work and the time you departed each day of the week.






20. Time worked beyond the standard work week or hours






21. A wage system in which workers are paid by the # of pieces produced






22. 26 pay periods.






23. 6 pay periods.






24. The total amount of money you earn for a pay period at the hourly rate.






25. Pay system in which the rate of commission increased as the base increases






26. Future spending goals






27. Receive a specific amount of money that you earn on a regular basis.






28. Given for work over a certain # of hours or for work on weekends & holidays






29. Who is paid by the hour






30. Be an amount for each item sold or it may be a % of the $ value






31. An amount of income that is free from tax






32. Total income in a year - includes wages - salaries - commissions - bonuses - tips - interest - dividends - prizes - pensions - sale of stock - and profit from a business.






33. Money received from interest and dividends






34. Or fringe benefits - in addition to wages - extra pay or services






35. The amount used to figure income tax with a tax-rate schedule






36. Total amount of money that an employee is paid






37. 1 1/2 times (x1.5) the regular time rate






38. Money paid out of the total job benefits fro things usuch as travel - dues - tools.






39. 52 pay periods.






40. If the commission is the only pay you receive.






41. What people are paid






42. Employers are required by law to withhold a certain amount of your pay.






43. Money received from working such as wages - salaries or tips






44. Subtractions from gross pay






45. Portion of your wage that you pay tax on.






46. The total value of the benefits received from a job less job expenses






47. If you are married or are in charge of any other support.






48. Expressed as a percent and used to determine how much tax you pay.






49. Single number used to represent a goup of #'s






50. 2 times your regular hourly rate.