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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. 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.