9 Math Income and Taxation - CMC

What are the two main types of income discussed in the lesson?

• Wage and salary

• Commission and piece work

• Salary and commission

• Wage and piece work

What is the difference between wage and salary?

• Wage is based on an hourly rate, while salary is based on an annual amount

• Wage is based on an annual amount, while salary is based on an hourly rate

• Wage is paid weekly, while salary is paid monthly

• Wage is paid monthly, while salary is paid weekly

What is overtime?

• Working hours outside of normal hours

• Working extra hours on weekends

• Working extra hours on public holidays

• Working extra hours on weekdays

What is commission?

• A percentage of sales

• A fixed amount per hour

• A bonus for working overtime

• A bonus for taking holidays

What is piece work?

• Getting paid per item produced

• Getting paid a fixed amount per week

• Getting paid a percentage of sales

• Getting paid a bonus for taking holidays

What is taxation?

• A portion of income paid to the government

• A bonus for working overtime

• A fixed amount per hour

• A percentage of sales

What is the difference between gross income and net income?

• Gross income is the total amount earned, while net income is the amount after tax

• Gross income is the amount after tax, while net income is the total amount earned

• Gross income is the amount before tax, while net income is the amount after tax

• Gross income is the total amount earned, while net income is the amount before tax

What is the purpose of leave loading?

• To provide a bonus during holidays

• To deduct tax from the income

• To calculate the hourly rate

• To determine the annual income

What is Ken's weekly income?

• $1148.75

• $4595

• $800.13

• $21.60

What is Brooke's yearly income?

• $20,404.80

• $59,735

• $800.13

• $21.60