CONSUMER MATH UNIT 1 VOCAB

Front

Fixed regular payment.

Back

Wages

Front

Expenses:

Back

Cost required for something; money spent.

Front

Sales tax?

Back

A tax on sales or receipts from sales.

Front

Sales commission

Back

Additional compensation for exceeding expectations.

Front

Gross Pay: all money earned before deductions

Back

all of the money you've made while working at your job, figured before any deductions are taken.

Front

Net Pay?

Back

Gross pay minus deductions (take home pay).

Front

Overtime pay definition.

Back

Pay for hours over 40 in a week at least 1.5 times regular rate.

Front

Salary definition

Back

A fixed regular payment, typically monthly or biweekly, often expressed annually.

Front

Depreciation:

Back

Reduction in an asset's value over time due to wear and tear.

Front

What is a budget?

Back

Estimate of income and expenditure for a set period.