FPL VOCAB 04: Pay Flashcards

Front

How many work hours are in a full-time work year?

Back

2080

Front

Morgan earns $15.50 gross pay per hour. Morgan's gross pay for 1 year is (assume full time work)

Back

$32,240

Front

What is the amount called before all deductions, including taxes, are made from a paycheck?

Back

Gross Income

Front

Deductions in a paycheck are...

Back

All reductions from gross pay, both required and voluntary before an employee is paid.

Front

Katelyn received her paycheck and noticed the amount she takes home is referred to as

Back

Net Income

Front

The amount of time you can pay for expenses without working is known as

Back

Wealth

Front

Mitch received income or profit through his investments. What type of income is this? Options: Earned Income, Wealth, Portfolio Income, Deductions, Passive Income

Back

Portfolio Income

Front

Jacquie received income for trading her time and effort at her new job. Options: Earned Income, Wealth, Portfolio Income, Deductions, Passive Income

Back

Earned Income

Front

What type of income is received from a rental property with no current effort required?

Back

Passive Income

Front

Madi and Alex are planning to grow their wealth by depositing money into places that are expected to generate income or profit.

Back

Investing