12-1 Calculating Employee Earnings

1. A method of paying an employee based on the amount of sales the employee generates is called __________________.

• wage
• salary
• commission
• total earnings
• gross pay, gross wages, 0r gross earnings

2. Total earnings are sometimes referred to as __________________.

• wage
• salary
• commission
• total earnings
• gross pay, gross wages, or gross earnings

3. A fixed annual sum of money divided among equal pay periods is called a _____________________

• wage
• salary
• commission
• total earnings
• gross pay, gross wages, or gross earnings

4. The amount paid to an employee for every hour worked is called a _____________________.

• wage
• salary
• commission
• total earnings
• gross pay, gross wages, or gross earnings

5. The total amount paid by a business for an employee’s work, earned by a wage, salary, or commission, is called _____________________.

• wage
• salary
• commission
• total earnings
• gross pay, gross wages, or gross earnings

6. A ________________________ is the number of days or weeks of work covered by an employee’s paycheck. (type your answer in lowercase letters.)

7. A business "only" pay employee salaries every week or every two weeks.

• True
• False

8. A __________________ is a device used to record the dates and times of each employee’s arrivals and departures. (type your answer in lowercase letters.)

9. The accounting staff position that compiles and computes payroll data and then prepares, journalizes, and posts payroll transactions is called a ____________________. (type your answer in lowercase letters.)

10. The total amount earned by all employees for a pay period is called a ____________________. (type your answer in lowercase letters.)