WorksheetsUnderstanding Income and Pay Structures
Total questions: 28
Worksheet time: 30mins
What is payroll?
the system businesses use to track customer purchases
a type of loan employees receive from their workplace
a list of a company's employees and the amount of money they are to be paid.
the process of hiring new employees for a company
Gross income is:
the total amount of money you earn
the amount of money you receive after decuctions are subtracted
the total amount of money you spend
sales taxes on items you buy
A fixed amount of money that your earn on a regular basis is ...
salary
piecework
commission
hourly pay
A pay period with occurs 24 times a year is ...
weekly
bi-weekly
semi-monthly
monthly
A pay period with occurs 12 times a year is ...
weekly
bi-weekly
semi-monthly
monthly
A pay period with occurs 52 times a year is ...
weekly
bi-weekly
semi-monthly
monthly
A pay period with occurs 26 times a year is ...
weekly
bi-weekly
semi-monthly
monthly
A ___________________ is a recurring length of time over which an employee is paid.
paycheck
weekly time card
salary
pay period
What type of pay is it when you receive a specified amount of money for each item of work that you complete?
hourly pay
salary
piecework
commission
What type of pay is it when the amount of money that you are paid is based on sales?
hourly pay
salary
piecework
commission
A ___________________ shows the time you reported for work and the time you left each day of the week
paycheck
weekly time card
pay period
commission rate
When you work overtime and you are paid 1.5 times your regular hourly rate, you are paid _______________________.
There is no special term... it is just overtime.
double time
time and a half
piecework
When you work overtime and you are paid 2 times or twice your regular hourly rate, you are paid _______________________.
There is no special term... it is just overtime.
double time
time and a half
piecework
What type of pay is it when you are paid a fixed amount of money for each hour you work?
hourly pay
salary
piecework
commission
The amount of money you earn per hour is called your ...
commission rate
hourly rate
time and a half
double time
When you are paid using hourly pay, the pay you recieve for hours you normally work which are less than or equal to 40 hours is called ...
straight-time pay
overtime pay
total pay
paychecks
When you are paid using hourly pay, the pay you recieve for hours you work above your normal work hours or over 40 hours a week is called ...
straight-time pay
overtime pay
total pay
paychecks
Gross income is:
the total amount of money you earn
the amount of money you receive after decuctions are subtracted
the total amount of money you spend
sales taxes on items you buy
Which of these payroll deductions is a legal requirement?
Health Insurance
Retirement Plan
Federal Income Tax
Union Dues
Reflects the amounts that are automatically deposited into the bank accounts specified by the employee
Deductions
Wages
Direct deposit
Gross pay
Total amount of money earned for the entire year up to the current pay period
Year to Day
Year to Date
Year to Time
Year to Cost
Monetary subtractions from the employee's gross pay
Salary
Wages
Deductions
Gross pay
Pay based on the amount of money an employee earns per hour
Wages
Salary
Gross pay
Net pay
Which type of compensation pays the employee a set amount of money for a set period of time?
Hourly
Piece Work
Equity
Salary
A ________ employee received a set amount of pay each month without overtime compensation for extra hours worked.
piece work
salary
hourly
commission
