WorksheetsIncome Quiz 1
Total questions: 25
Worksheet time: 19mins
Pay structure in which salaried employees receive 1/12 of their annual salary on the last day of each month
weekly pay period
semimonthly pay period
overtime pay
monthly pay period
Person or company who hires a person and pays him/her for work done
employer
producer
manager
employee
Wages that are earned when an employee works over 40 hrs in a week
vacation pay
base pay
gross pay
overtime pay
Automatic deposit of a person's paycheck into his/her checking account
credit card
direct deposit
debit card
commission
Fixed payment for a person's work, usually paid monthly or twice per month
money
contract
payroll
salary
Pay the employee receives for work performed
gross pay
base pay
overtime pay
variable pay
Amount of money paid for each hour of worked
annual salary
hourly wage
overtime
minimum wage
Money received by a person or company
income
cost
expense
price
Tool that makes it easier to trade one thing of value for another
stock
labor
land
money
Agreement made through spoken communication.
unlateral contract
verbal contract
bilateral contract
bilateral agreement
Pay structure in which employees are paid each week.
weekly pay period
overtime pay
semimonthly pay period
monthly pay period
Lowest hourly wage employers are legally required to pay employees
minimum wage
overtime pay
living wage
gross pay
When the only compensation received by an employee is commission
straight commission
graduated commission
salary plus commission
commission plus bonus
List of employees a company pays
utilities
money
taxes
payroll
Pay structure that divides the month into two pay periods; payday is often at the middle and the end of the month
overtime pay
semimonthly pay period
weekly pay period
biweekly pay period
Pay structure in which employees are paid every two weeks, often on a Friday
base pay
biweekly pay period
semimonthly pay period
minimum wage
The pay that people receive for their work
unearned income
earned income
discretionary income
portfolio income
Income that is not derived from a person's work
earned income
taxable income
gross income
unearned income
A person who starts up and takes on the risk of a business
entrepreneur
consumer
independent contractor
manager
Formal agreement between two or more entities (people/organizations)
market
commission
contract
income
Match the pay period with how many
paychecks you would get in a year.
Paid Monthly
12 paychecks per year
Paid Weekly
52 paychecks per year
Paid Biweekly
26 paychecks per year
Paid Semi-Monthly
24 paychecks per year
If you earn $15.50 per hour and work 40 hours in one week, what is your gross weekly pay?
A teacher earns a $62,000 salary and is paid monthly. How much does the teacher earn per paycheck before taxes?
(Round to the hundredths place.)
A car salesperson earns 6% commission on each sale. If she sells a $25,000 car, how much commission does she make?
Match each job type to its typical pay structure:
Retail cashier
Hourly
Car Dealer
Commission
School principal
Salary
