Chpt 2- Income, Benefits and Taxes

Forms of pay other than salary and wages.

• disposable income

• personal leave

• overtime pay

• benefits

Paid time away from work for personal reasons.

• commission

• personal leave

• minimum way

• benefits

A benefit whereby employees may share in the profits of the business.

• benefits

• profit-sharing plan

• retirement plan

• commission

The lowest pay rate allowed by law

• minimum wage

• commission

• sick leave

• disposable income

A person who takes the risks of being self-employed and owning a business.

• marketer

• retirement

• entrepreneur

• employee

Money that is available to spend or save after taxes have been paid.

• benefits

• overtime pay

• profit-sharing

• disposable income

Paid time away from work due to illness.

• sick leave

• personal leave

• retirement

• entrepreneur

Pay received for hours worked above regular hours.

• commission

• personal leave

• overtime

• benefits

A set fee or percentage of a sale paid instead of or in addition to salary or wages.

• profit-sharing

• overtime

• commission

• benefits

Money and benefits received from local, state, or federal governments.

• transfer payments

• in-kind payments

• public goods

• in-cash payments