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






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






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






4. Money received from interest and dividends






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






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






7. What you earn before exemptions are taken out.






8. Who work for others






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






10. Person or company an employee work for






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






12. Total amount of money that an employee is paid






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






14. 1 1/2 times your regular hourly rate.






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






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






17. Future spending goals






18. 6 pay periods.






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






20. What people are paid






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






22. Amount of tax withheld a year.






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






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






25. Subtractions from gross pay






26. The amount of money you earn per hour.






27. An amount of income that is free from tax






28. 2 times your regular hourly rate.






29. Fixed amount of sales above which commission is paid






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






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






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






33. 52 pay periods.






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






35. Who is paid by the hour






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






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






38. 26 pay periods.






39. 12 pay periods.






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






41. A tax term meaning gross income less adjustments






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






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






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






45. A deduction from pay for income tax






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






47. System in which commission is only pay






48. When you work more than your regular hours.






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






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