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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. Total amount of money that an employee is paid






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






3. Who is paid by the hour






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






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






6. A tax term meaning gross income less adjustments






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






8. When you work more than your regular hours.






9. Person or company an employee work for






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






11. 12 pay periods.






12. Money received from interest and dividends






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






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






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






16. 1 1/2 times (x1.5) the regular time rate






17. 52 pay periods.






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






19. Subtractions from gross pay






20. An amount of income that is free from tax






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






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






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






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






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






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






27. A deduction from pay for income tax






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






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






30. Future spending goals






31. Amount of tax withheld a year.






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






33. System in which commission is only pay






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






35. What people are paid






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






37. The amount of money you earn per hour.






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






39. Fixed amount of sales above which commission is paid






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






41. 6 pay periods.






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






43. What you earn before exemptions are taken out.






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






45. 2 times your regular hourly rate.






46. 26 pay periods.






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






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






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






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