Quiz about Gross Income Vocabulary

Question 1

Gross income is:

Accepted Answer

the total amount of money you earn

Answer

the amount of money you receive after decuctions are subtracted

Answer

the total amount of money you spend

Answer

sales taxes on items you buy

Question 2

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

Accepted Answer

salary

Answer

piecework

Answer

commission

Answer

hourly pay

Question 3

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

Accepted Answer

semi-monthly

Answer

weekly

Answer

bi-weekly

Answer

monthly

Question 4

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

Accepted Answer

monthly

Answer

weekly

Answer

bi-weekly

Answer

semi-monthly

Question 5

A pay period with occurs 52 times a year is ...

Accepted Answer

weekly

Answer

bi-weekly

Answer

semi-monthly

Answer

monthly

Question 6

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

Accepted Answer

bi-weekly

Answer

weekly

Answer

semi-monthly

Answer

monthly

Question 7

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

Accepted Answer

pay period

Answer

paycheck

Answer

weekly time card

Answer

salary

Question 8

What type of pay is it when you receive a specified amount of money for each item of work that you complete?

Accepted Answer

piecework

Answer

hourly pay

Answer

salary

Answer

commission

Question 9

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

Accepted Answer

commission

Answer

hourly pay

Answer

salary

Answer

piecework

Question 10

A method of compensation for the sales people where the commission earned as a percentage of sales increases incrementally with the increase in the sales volume is called ...

Accepted Answer

graduated commission

Answer

commission

Answer

salary

Answer

piecework

Question 11

A ___________________ shows the time you reported for work and the time you left each day of the week

Accepted Answer

weekly time card

Answer

paycheck

Answer

pay period

Answer

commission rate

Question 12

When you work overtime and you are paid 1.5 times your regular hourly rate, you are paid _______________________.

Accepted Answer

time and a half

Answer

There is no special term... it is just overtime.

Answer

double time

Answer

piecework

Question 13

When you work overtime and you are paid 2 times or twice your regular hourly rate, you are paid _______________________.

Accepted Answer

double time

Answer

There is no special term... it is just overtime.

Answer

time and a half

Answer

piecework

Question 14

What type of pay is it when you are paid a fixed amount of money for each hour you work?

Accepted Answer

hourly pay

Answer

salary

Answer

piecework

Answer

commission

Question 15

The amount of money you earn per hour is called your ...

Accepted Answer

hourly rate

Answer

commission rate

Answer

time and a half

Answer

double time

Question 16

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 ...

Accepted Answer

straight-time pay

Answer

overtime pay

Answer

total pay

Answer

paychecks

Question 17

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 ...

Accepted Answer

overtime pay

Answer

straight-time pay

Answer

total pay

Answer

paychecks

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