Test your basic knowledge |

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. 52 pay periods.






2. Money received from interest and dividends






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






4. Subtractions from gross pay






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






6. Total amount of money that an employee is paid






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






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. Future spending goals






10. 12 pay periods.






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






12. A tax term meaning gross income less adjustments






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






14. When you work more than your regular hours.






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






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






17. 1 1/2 times your regular hourly rate.






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






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






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






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






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






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






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






25. What you earn before exemptions are taken out.






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






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






28. A deduction from pay for income tax






29. Fixed amount of sales above which commission is paid






30. Person or company an employee work for






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






32. Who work for others






33. 2 times your regular hourly rate.






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






35. 26 pay periods.






36. What people are paid






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






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






39. System in which commission is only pay






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






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






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






43. 6 pay periods.






44. Amount of tax withheld a year.






45. 1 1/2 times (x1.5) the regular time rate






46. An amount of income that is free from tax






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






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






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






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