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. Amount of tax withheld a year.






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






3. Total amount of money that an employee is paid






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






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






6. A tax term meaning gross income less adjustments






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






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






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






10. An amount of income that is free from tax






11. 1 1/2 times your regular hourly rate.






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






13. 12 pay periods.






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






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






16. Who is paid by the hour






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






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






19. 52 pay periods.






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






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






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






23. System in which commission is only pay






24. 26 pay periods.






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






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






27. What people are paid






28. 2 times your regular hourly rate.






29. 6 pay periods.






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






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






32. The amount of money you earn per hour.






33. A deduction from pay for income tax






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






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






36. What you earn before exemptions are taken out.






37. Subtractions from gross pay






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






39. Person or company an employee work for






40. When you work more than your regular hours.






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






42. Who work for others






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






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






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






46. Future spending goals






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






48. Time worked beyond the standard work week or hours






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






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