BUSINESS MATHEMATICS (4TH QUARTER)

The following are statements that best described a salary earner, EXCEPT:

• A. Individual receiving this compensation is called fixed income earner.

• B. Individual’s payment can be received by monthly or semi – monthly.

• C. Individual’s payment is on hourly rate basis for manual labor.

• D. Individual is paid a fixed amount per pay period.

This is the payment made for a service rendered usually referring to a payment for total hours of work at a designated hourly rate.

• A. Salary

• B. Income

• C. Wage

• D. Benefits

This is a compensation, either monetary or in kind, that is given to employees for serving in the establishment or company.

• A. Salary

• B. Income

• C. Wage

• D. Benefits

This is a benefit granted to a mother in form of a period of absence from work before and after the birth of her child.

• A. Maternity Leave

• B. Sick Leave

• C. Solo Parent Leave

• D. Vacation Leave

This is a pay entitled for retiring employees equivalent to at least one-half month salary for every year of service.

• A. Seperation Pay

• B. Retirement Pay

• C. Bonus

• D. Overtime Pay

The following are examples of mandatory government deductions in the Philippines, EXCEPT:

• A. SSS

• B. Pag - ibig

• C, PhilHealth

• D. Cooperative Share

This is the total amount in salary or wages an individual earned before taxes and other deduction are made.

• A. Gross Annual Income

• B. Gross Earnings

• C. Net Annual Income

• D. Net Earnings

This is the total amount in salary or wages an individual earned over a one – year period before taxes and other deduction are made.

• A. Gross Annual Income

• B. Gross Earnings

• C. Net Annual Income

• D. Net Earnings

It is the amount left out of the total earnings of an employee after deduction like taxes and other deductions that have been made.

• A. Gross Annual Income

• B. Gross Earnings

• C. Net Annual Income

• D. Net Earnings

It is sometimes called brokerage.

• Salary

• Income

• Commission

• Incentives