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






2. Total amount of money that an employee is paid






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






4. 1 1/2 times (x1.5) the regular time rate






5. 26 pay periods.






6. Person or company an employee work for






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






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






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






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






11. The amount of money you earn per hour.






12. Time worked beyond the standard work week or hours






13. 12 pay periods.






14. An amount of income that is free from tax






15. A tax term meaning gross income less adjustments






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






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






18. 1 1/2 times your regular hourly rate.






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






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






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






22. Who work for others






23. Fixed amount of sales above which commission is paid






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






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






26. Money received from interest and dividends






27. System in which commission is only pay






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






29. 2 times your regular hourly rate.






30. Subtractions from gross pay






31. Who is paid by the hour






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






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






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






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






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






38. Future spending goals






39. 52 pay periods.






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






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






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






43. What you earn before exemptions are taken out.






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






45. What people are paid






46. A deduction from pay for income tax






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






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






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






50. 6 pay periods.