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DSST Business Math: Salaries Vocab

  • Answer 50 questions in 15 minutes.
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  • Match each statement with the correct term.
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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. A tax term meaning gross income less adjustments

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

3. When you work more than your regular hours.

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

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

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

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

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

9. 1 1/2 times your regular hourly rate.

10. 6 pay periods.

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

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

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

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

15. Who is paid by the hour

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

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

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

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

20. 12 pay periods.

21. 52 pay periods.

22. System in which commission is only pay

23. Subtractions from gross pay

24. Money received from interest and dividends

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

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

27. 26 pay periods.

28. Person or company an employee work for

29. Amount of tax withheld a year.

30. An amount of income that is free from tax

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

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

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

34. 2 times your regular hourly rate.

35. 1 1/2 times (x1.5) the regular time rate

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

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

38. Who work for others

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

40. Total amount of money that an employee is paid

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

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

43. What you earn before exemptions are taken out.

44. The amount of money you earn per hour.

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

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

47. What people are paid

48. Future spending goals

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

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