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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. What people are paid






2. 6 pay periods.






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






4. Amount of tax withheld a year.






5. 26 pay periods.






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






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






8. Who work for others






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






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






11. Fixed amount of sales above which commission is paid






12. System in which commission is only pay






13. Time worked beyond the standard work week or hours






14. An amount of income that is free from tax






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






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. Who is paid by the hour






18. Future spending goals






19. A deduction from pay for income tax






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






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






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






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






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






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






26. 12 pay periods.






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






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






29. 1 1/2 times your regular hourly rate.






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






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






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






33. Person or company an employee work for






34. The amount of money you earn per hour.






35. When you work more than your regular hours.






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






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






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






39. Money received from interest and dividends






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






41. What you earn before exemptions are taken out.






42. 2 times your regular hourly rate.






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






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






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






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






47. Subtractions from gross pay






48. A tax term meaning gross income less adjustments






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






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