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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. If the commission is the only pay you receive.






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






3. Amount of tax withheld a year.






4. Time worked beyond the standard work week or hours






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






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






7. Total amount of money that an employee is paid






8. Who work for others






9. Future spending goals






10. The amount of money you earn per hour.






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






12. A deduction from pay for income tax






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






14. 6 pay periods.






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






16. Person or company an employee work for






17. 52 pay periods.






18. A tax term meaning gross income less adjustments






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






20. 26 pay periods.






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






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






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






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






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






26. What people are paid






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






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






29. What you earn before exemptions are taken out.






30. An amount of income that is free from tax






31. When you work more than your regular hours.






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






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






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






35. Money received from interest and dividends






36. 1 1/2 times (x1.5) the regular time rate






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






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






39. Fixed amount of sales above which commission is paid






40. 1 1/2 times your regular hourly rate.






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






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






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






44. Who is paid by the hour






45. 12 pay periods.






46. 2 times your regular hourly rate.






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






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






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






50. System in which commission is only pay