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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. The amount of money you earn per hour.






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






3. Time worked beyond the standard work week or hours






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






5. 52 pay periods.






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






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






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






9. A deduction from pay for income tax






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






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






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






13. A tax term meaning gross income less adjustments






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






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






16. What you earn before exemptions are taken out.






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






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






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






20. Fixed amount of sales above which commission is paid






21. Who is paid by the hour






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






23. Person or company an employee work for






24. 2 times your regular hourly rate.






25. 12 pay periods.






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






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






28. Total amount of money that an employee is paid






29. Amount of tax withheld a year.






30. What people are paid






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






32. Who work for others






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






34. 6 pay periods.






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






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






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






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






40. 1 1/2 times (x1.5) the regular time rate






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






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






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






44. An amount of income that is free from tax






45. Money received from interest and dividends






46. When you work more than your regular hours.






47. Subtractions from gross pay






48. Future spending goals






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






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