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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. 6 pay periods.

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

3. A tax term meaning gross income less adjustments

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

5. Person or company an employee work for

6. System in which commission is only pay

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

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

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

10. 2 times your regular hourly rate.

11. A deduction from pay for income tax

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

13. What you earn before exemptions are taken out.

14. Who work for others

15. 12 pay periods.

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

17. Money received from interest and dividends

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

19. The amount of money you earn per hour.

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

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

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

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

24. Fixed amount of sales above which commission is paid

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

26. When you work more than your regular hours.

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

28. Subtractions from gross pay

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

30. Who is paid by the hour

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

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

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

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

37. An amount of income that is free from tax

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

39. Total amount of money that an employee is paid

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

41. 52 pay periods.

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

43. Time worked beyond the standard work week or hours

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

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

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

47. What people are paid

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

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

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