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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. Time worked beyond the standard work week or hours






2. Person or company an employee work for






3. 12 pay periods.






4. Money received from interest and dividends






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






6. Fixed amount of sales above which commission is paid






7. A deduction from pay for income tax






8. A tax term meaning gross income less adjustments






9. 1 1/2 times (x1.5) the regular time rate






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






11. Who is paid by the hour






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






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






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






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






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






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






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






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






20. An amount of income that is free from tax






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






22. Future spending goals






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






24. 1 1/2 times your regular hourly rate.






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






26. Subtractions from gross pay






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






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






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






30. What you earn before exemptions are taken out.






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






32. The amount of money you earn per hour.






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






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






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






36. Who work for others






37. 6 pay periods.






38. Total amount of money that an employee is paid






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






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






41. When you work more than your regular hours.






42. 52 pay periods.






43. 2 times your regular hourly rate.






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






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






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






47. 26 pay periods.






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






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






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