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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. System in which commission is only pay






2. When you work more than your regular hours.






3. A deduction from pay for income tax






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






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






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






7. 1 1/2 times (x1.5) the regular time rate






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






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






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






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






12. Who is paid by the hour






13. 52 pay periods.






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






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






16. The amount of money you earn per hour.






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






18. Total amount of money that an employee is paid






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






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






21. 6 pay periods.






22. Fixed amount of sales above which commission is paid






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






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






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






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






27. Time worked beyond the standard work week or hours






28. 26 pay periods.






29. Future spending goals






30. Amount of tax withheld a year.






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






32. An amount of income that is free from tax






33. 2 times your regular hourly rate.






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






35. 1 1/2 times your regular hourly rate.






36. 12 pay periods.






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






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






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






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






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






42. Who work for others






43. A tax term meaning gross income less adjustments






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






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






46. What people are paid






47. Person or company an employee work for






48. Money received from interest and dividends






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






50. Subtractions from gross pay