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






2. Person or company an employee work for






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






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






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






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






7. May be a specified amount of money for each sale or it may be a percent of the total value of your sales.






8. 1 1/2 times (x1.5) the regular time rate






9. What people are paid






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






11. Who is paid by the hour






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






13. Amount of tax withheld a year.






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






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






16. When you work more than your regular hours.






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






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






19. A tax term meaning gross income less adjustments






20. An amount of income that is free from tax






21. What you earn before exemptions are taken out.






22. An allowance for a person used to reduce the amount of tax withheld from pay






23. Future spending goals






24. Money received from interest and dividends






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






26. 2 times your regular hourly rate.






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






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






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






30. Time worked beyond the standard work week or hours






31. The amount of money you earn per hour.






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






33. Who work for others






34. 52 pay periods.






35. Total amount of money that an employee is paid






36. 6 pay periods.






37. Fixed amount of sales above which commission is paid






38. A deduction from pay for income tax






39. 26 pay periods.






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






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






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






43. 12 pay periods.






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






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






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






47. 1 1/2 times your regular hourly rate.






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






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






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