UNIT 3: Payroll & Earnings Statements

Someone who comes up with a business idea and takes the risk to start their own company. They're the boss and try to make a profit by selling a product or service.

• employee

• employer

• entrepreneur

Tags

CCSS.RI.5.5

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.8.5

CCSS.RI.9-10.5

Someone who works for a business owned by someone else. They follow instructions and get paid a wage or salary for the work they do.

• employee

• employer

• entrepreneur

Tags

CCSS.RI.7.2

CCSS.RI.8.2

CCSS.RL.6.1

CCSS.RL.7.1

CCSS.RL.7.2

The person or company that hires and pays people to work for them. They're responsible for managing these people and ensuring they get paid.

• employee

• employer

• entrepreneur

Tags

CCSS.L.1.6

CCSS.L.3.6

CCSS.L.4.6

CCSS.L.K.5A

Someone who gets paid for each hour that they work is considered an __________ employee.

Someone who gets paid based on an annual number and their paycheck does not vary based on the number of hours that they work is a __________ employee.

Tags

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

CCSS.RI.8.4

CCSS.RI.9-10.4

When an employee works more than their contractual hours per week, they are paid __________.

• salary

• hourly

• overtime

• commission

When an employee earns money based on how much they sell, they are paid __________.

• salary

• hourly

• overtime

• commission

Tags

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

CCSS.RI.8.4

CCSS.RI.9-10.4

Overtime is typically __________ times your hourly wage.

• 2

• 1

• 1.5

• 1.75

Tags

CCSS.6.RP.A.3B

The amount of money that you earn is called ​ (a)   . The amount of money that you take home is called ​ (b)   .

• gross pay
• net pay

Getting paid once each week is considered​ (a)   . Getting paid once every other week is considered ​ (b)   . Weekly employees typically receive ​ (c)   paychecks per year while bi-weekly employees receive ​ (d)   .

• weekly.
• bi-weekly
• 52
• 26