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






2. Who is paid by the hour






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






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






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






6. A tax term meaning gross income less adjustments






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






8. When you work more than your regular hours.






9. Fixed amount of sales above which commission is paid






10. An amount of income that is free from tax






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






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






13. 12 pay periods.






14. 26 pay periods.






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






16. A deduction from pay for income tax






17. 52 pay periods.






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






19. Subtractions from gross pay






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






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






22. 1 1/2 times (x1.5) the regular time rate






23. 2 times your regular hourly rate.






24. What you earn before exemptions are taken out.






25. Time worked beyond the standard work week or hours






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






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






28. 6 pay periods.






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






30. Who work for others






31. Person or company an employee work for






32. Future spending goals






33. Total amount of money that an employee is paid






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






35. 1 1/2 times your regular hourly rate.






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






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






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






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






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






41. What people are paid






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






43. Amount of tax withheld a year.






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






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






47. Money received from interest and dividends






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






49. System in which commission is only pay






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