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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. Amount of tax withheld a year.






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






3. The amount of money you earn per hour.






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






5. 52 pay periods.






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






7. Who work for others






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






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






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






11. 26 pay periods.






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






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






14. Person or company an employee work for






15. Subtractions from gross pay






16. Time worked beyond the standard work week or hours






17. 6 pay periods.






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






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






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






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






22. Fixed amount of sales above which commission is paid






23. A tax term meaning gross income less adjustments






24. Money received from interest and dividends






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






26. 1 1/2 times (x1.5) the regular time rate






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






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






29. What people are paid






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






31. Future spending goals






32. What you earn before exemptions are taken out.






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






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






35. An amount of income that is free from tax






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






37. Total amount of money that an employee is paid






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






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






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






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






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






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






44. 12 pay periods.






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






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






47. 2 times your regular hourly rate.






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






49. System in which commission is only pay






50. A deduction from pay for income tax







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