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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. 52 pay periods.






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






3. What you earn before exemptions are taken out.






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






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






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






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






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






9. Subtractions from gross pay






10. Time worked beyond the standard work week or hours






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






12. Amount of tax withheld a year.






13. An amount of income that is free from tax






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






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






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






17. 6 pay periods.






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






19. Future spending goals






20. Money received from interest and dividends






21. When you work more than your regular hours.






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






23. 1 1/2 times (x1.5) the regular time rate






24. 26 pay periods.






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






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






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






28. Who work for others






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






30. Total amount of money that an employee is paid






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






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






33. 1 1/2 times your regular hourly rate.






34. A deduction from pay for income tax






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






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






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






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






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






40. Person or company an employee work for






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






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






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






44. The amount of money you earn per hour.






45. Fixed amount of sales above which commission is paid






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






47. System in which commission is only pay






48. What people are paid






49. A tax term meaning gross income less adjustments






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