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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. An amount of income that is free from tax






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






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






4. Time worked beyond the standard work week or hours






5. What you earn before exemptions are taken out.






6. 6 pay periods.






7. 26 pay periods.






8. Person or company an employee work for






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






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






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






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






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






14. 1 1/2 times (x1.5) the regular time rate






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






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






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






18. Subtractions from gross pay






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






20. Money received from interest and dividends






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






22. A deduction from pay for income tax






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






24. Who is paid by the hour






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






26. Who work for others






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






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






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






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






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






32. The amount of money you earn per hour.






33. Total amount of money that an employee is paid






34. 1 1/2 times your regular hourly rate.






35. System in which commission is only pay






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






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






38. When you work more than your regular hours.






39. A tax term meaning gross income less adjustments






40. What people are paid






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






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






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






44. Amount of tax withheld a year.






45. 2 times your regular hourly rate.






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






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






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






49. 12 pay periods.






50. Future spending goals