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






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






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






4. Time worked beyond the standard work week or hours






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






6. Subtractions from gross pay






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






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






9. System in which commission is only pay






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






11. What people are paid






12. An amount of income that is free from tax






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






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






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






16. Total amount of money that an employee is paid






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






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






19. Who work for others






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






21. Who is paid by the hour






22. Money received from interest and dividends






23. 6 pay periods.






24. The amount of money you earn per hour.






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






26. 1 1/2 times your regular hourly rate.






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






28. Person or company an employee work for






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






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






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






32. Fixed amount of sales above which commission is paid






33. Future spending goals






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






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






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






37. 26 pay periods.






38. 2 times your regular hourly rate.






39. When you work more than your regular hours.






40. What you earn before exemptions are taken out.






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






42. Amount of tax withheld a year.






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






44. A tax term meaning gross income less adjustments






45. 52 pay periods.






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






47. 12 pay periods.






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






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






50. 1 1/2 times (x1.5) the regular time rate