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






2. 6 pay periods.






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






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






5. 52 pay periods.






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






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






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






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






10. Money received from interest and dividends






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






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






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






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






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






16. Amount of tax withheld a year.






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






18. 2 times your regular hourly rate.






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






20. 1 1/2 times (x1.5) the regular time rate






21. The amount of money you earn per hour.






22. Time worked beyond the standard work week or hours






23. An amount of income that is free from tax






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






25. Total amount of money that an employee is paid






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






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






28. Fixed amount of sales above which commission is paid






29. Subtractions from gross pay






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






31. Who work for others






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






33. A tax term meaning gross income less adjustments






34. System in which commission is only pay






35. What people are paid






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






37. Future spending goals






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






39. Person or company an employee work for






40. 1 1/2 times your regular hourly rate.






41. Who is paid by the hour






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






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






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






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






46. 26 pay periods.






47. When you work more than your regular hours.






48. What you earn before exemptions are taken out.






49. 12 pay periods.






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