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

2. 6 pay periods.

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

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

5. System in which commission is only pay

6. 26 pay periods.

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

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

9. What you earn before exemptions are taken out.

10. Amount of tax withheld a year.

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

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

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

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

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

16. What people are paid

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

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

19. Fixed amount of sales above which commission is paid

20. Person or company an employee work for

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

22. Subtractions from gross pay

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

24. An amount of income that is free from tax

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

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

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

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

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

30. When you work more than your regular hours.

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

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

33. A deduction from pay for income tax

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

35. Who work for others

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

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

38. 1 1/2 times (x1.5) the regular time rate

39. Time worked beyond the standard work week or hours

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

41. 2 times your regular hourly rate.

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

43. Future spending goals

44. A tax term meaning gross income less adjustments

45. The amount of money you earn per hour.

46. 1 1/2 times your regular hourly rate.

47. Total amount of money that an employee is paid

48. 12 pay periods.

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

50. 52 pay periods.