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DSST Business Math: Salaries Vocab

  • Answer 50 questions in 15 minutes.
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  • Match each statement with the correct term.
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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. Be an amount for each item sold or it may be a % of the $ value

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

3. An amount of income that is free from tax

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

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

6. A deduction from pay for income tax

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

8. Time worked beyond the standard work week or hours

9. Future spending goals

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

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

12. Who is paid by the hour

13. The amount of money you earn per hour.

14. 12 pay periods.

15. Total amount of money that an employee is paid

16. Person or company an employee work for

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

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

19. System in which commission is only pay

20. Subtractions from gross pay

21. 1 1/2 times (x1.5) the regular time rate

22. 52 pay periods.

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

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

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

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

27. 1 1/2 times your regular hourly rate.

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

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

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

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

32. 2 times your regular hourly rate.

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

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

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

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

37. 6 pay periods.

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

39. When you work more than your regular hours.

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

41. What people are paid

42. Who work for others

43. Fixed amount of sales above which commission is paid

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

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

46. What you earn before exemptions are taken out.

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

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

49. Amount of tax withheld a year.

50. 26 pay periods.