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






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






3. Total amount of money that an employee is paid






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






5. A deduction from pay for income tax






6. 12 pay periods.






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






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






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






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






11. Fixed amount of sales above which commission is paid






12. 26 pay periods.






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






14. 1 1/2 times your regular hourly rate.






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






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






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






18. 52 pay periods.






19. System in which commission is only pay






20. Who work for others






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






22. Future spending goals






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






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






25. Amount of tax withheld a year.






26. A tax term meaning gross income less adjustments






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






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






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






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






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






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






33. When you work more than your regular hours.






34. What people are paid






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






36. What you earn before exemptions are taken out.






37. 2 times your regular hourly rate.






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






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






40. The amount of money you earn per hour.






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






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






43. An amount of income that is free from tax






44. Person or company an employee work for






45. 6 pay periods.






46. 1 1/2 times (x1.5) the regular time rate






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






48. Subtractions from gross pay






49. Who is paid by the hour






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