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

2. Amount of tax withheld a year.

3. 26 pay periods.

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

5. An amount of income that is free from tax

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

7. Subtractions from gross pay

8. 52 pay periods.

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

10. Time worked beyond the standard work week or hours

11. 2 times your regular hourly rate.

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

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

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

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

16. 1 1/2 times (x1.5) the regular time rate

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

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

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

20. Who is paid by the hour

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

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

23. The amount of money you earn per hour.

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

25. Who work for others

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

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

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

29. Money received from interest and dividends

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

31. What you earn before exemptions are taken out.

32. When you work more than your regular hours.

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

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

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

36. What people are paid

37. 6 pay periods.

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

39. 12 pay periods.

40. A deduction from pay for income tax

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

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

43. A tax term meaning gross income less adjustments

44. Fixed amount of sales above which commission is paid

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

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

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

48. Total amount of money that an employee is paid

49. Future spending goals

50. Person or company an employee work for