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2nd SUMMATIVE TEST - B.MATH

Total questions: 20

Worksheet time: 22mins

Name
Class
Date
1.

Gross income is:

a)

the total amount of money you earn

b)

the amount of money you receive after decuctions are subtracted

c)

the total amount of money you spend

d)

sales taxes on items you buy

2.

A fixed amount of money that your earn on a regular basis is ...

a)

salary

b)

piecework

c)

commission

d)

hourly pay

3.

A pay period with occurs 24 times a year is ...

a)

weekly

b)

bi-weekly

c)

semi-monthly

d)

monthly

4.

A pay period with occurs 12 times a year is ...

a)

weekly

b)

bi-weekly

c)

semi-monthly

d)

monthly

5.

A pay period with occurs 26 times a year is ...

a)

weekly

b)

bi-weekly

c)

semi-monthly

d)

monthly

6.

A ___________________ is a recurring length of time over which an employee is paid.

a)

paycheck

b)

weekly time card

c)

salary

d)

pay period

7.

What type of pay is it when the amount of money that you are paid is based on sales?

a)

hourly pay

b)

salary

c)

piecework

d)

commission

8.

Money received on a regular basis for work or through investments

a)

Values

b)

Taxes

c)

Income

d)

Fixed Cost

9.
Earned income includes:
a)
Wages, Salaries, Tips, and other taxable employee pay
b)
Union Strike Benefits
c)
Long-term disability benefits received prior to retirement age
d)
All of these are correct
10.
Money paid to the government from working for pay
a)
excise tax
b)
income tax
c)
sales tax
d)
payroll tax
11.
The government agency in charge of collecting tax.
a)

TRAIN

b)

BIR

c)

TAX REFORM

d)

DOLE

12.

Taxable income includes such things as wages, tips, salaries, commissions, and bonuses

a)
True
b)
False
13.

Hamburger sold at McDonald's

a)

Taxable

b)

Nontaxable

14.

Laundry allowance of 500 pesos

a)

Taxable

b)

Nontaxable

15.

Rice Subsidy of 1,500

a)

Taxable

b)

Nontaxable

16.

It was created to provide private employees and thier families with protection against disability, sickness, old age, and death.

a)

SSS

b)

GSIS

c)

PhilHealth

d)

PagIBIG

17.

Roger Recieves 15, 000 a month. How much his net income?

a)

14, 018.25

b)

14, 018.75

c)

14, 019.00

d)

14, 018.50

18.

Basic Monthly Salary: 25,000.00

Commission: 3,575.85

Deductions: 6,556.35

What is the Net Income?

a)

22,020.00

b)

22,019.50

c)

22,019.75

d)

22,019.25

19.

Basic Monthly Salary : 47,513.75

Company Loan Deduction: 10,000.00

Compute the Net Income.

a)

30,306.05

b)

40,306.05

c)

42,806.07

d)

32,806.07

20.

Rommel has a daily rate of 300 pesos, how much his monthly salary if he works for 1 month (June 2021) excluding sundays. (No Deductions)

a)

8,100.00

b)

7,800.00

c)

9,000.00

d)

9,300.00