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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. 1 1/2 times your regular hourly rate.

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

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

4. When you work more than your regular hours.

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

6. 12 pay periods.

7. An amount of income that is free from tax

8. 26 pay periods.

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

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

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

12. 6 pay periods.

13. Fixed amount of sales above which commission is paid

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

15. 1 1/2 times (x1.5) the regular time rate

16. The amount of money you earn per hour.

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

18. What you earn before exemptions are taken out.

19. Future spending goals

20. A tax term meaning gross income less adjustments

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

22. Total amount of money that an employee is paid

23. Time worked beyond the standard work week or hours

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

25. Person or company an employee work for

26. Who work for others

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

28. 52 pay periods.

29. Subtractions from gross pay

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

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

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

33. What people are paid

34. System in which commission is only pay

35. Money received from interest and dividends

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

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

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

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

40. Who is paid by the hour

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

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

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

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

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

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

47. A deduction from pay for income tax

48. Amount of tax withheld a year.

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

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