Earning/Budgeting Vocab Quiz

What is the term for money received for work or through investments?

• Income

• Salary

• Wages

• Bonus

Which of the following is a fixed regular payment, typically paid monthly or biweekly, often expressed annually?

• Salary

• Wages

• Commission

• Overtime Pay

What is the payment received for work, usually calculated on an hourly, daily, or piecework basis?

• Wages

• Salary

• Bonus

• Commission

What is a fee paid to an employee based on the sales they generate?

• Commission

• Bonus

• Salary

• Overtime Pay

What is an additional payment given to an employee as a reward for good performance?

• Bonus

• Salary

• Wages

• Commission

What term describes total earnings before any deductions (like taxes) are taken out?

• Gross Income

• Net Income

• Overtime Pay

• Cash Flow

What is the term for income remaining after all deductions, including taxes and other expenses?

• Net Income

• Gross Income

• Surplus

• Deficit

What is the compensation for hours worked beyond the standard workweek, typically at a higher rate?

• Overtime Pay

• Bonus

• Commission

• Salary

What is a plan that outlines expected income and expenses over a specific period?

• Budget

• Expenditure

• Cash Flow

• Financial Planning

What is the amount of money spent on goods and services called?

• Expenditure

• Budget

• Surplus

• Deficit