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






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






3. Subtractions from gross pay






4. Who is paid by the hour






5. What you earn before exemptions are taken out.






6. System in which commission is only pay






7. Money received from interest and dividends






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






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






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






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






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






13. Future spending goals






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






15. 52 pay periods.






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






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






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






19. A tax term meaning gross income less adjustments






20. 26 pay periods.






21. Amount of tax withheld a year.






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






23. The amount of money you earn per hour.






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






25. 1 1/2 times your regular hourly rate.






26. Time worked beyond the standard work week or hours






27. 2 times your regular hourly rate.






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






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






30. A deduction from pay for income tax






31. When you work more than your regular hours.






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






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






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






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






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






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






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






39. Who work for others






40. 1 1/2 times (x1.5) the regular time rate






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






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






43. 12 pay periods.






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






45. An amount of income that is free from tax






46. Person or company an employee work for






47. Total amount of money that an employee is paid






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






49. 6 pay periods.






50. Fixed amount of sales above which commission is paid