Ch 3.1 FIn Lit Textbook

Eligible workers who worker more than ____ hours per week receive overtime pay.

• 30

• 35

• 40

• 45

Income paid as a percentage of sales made by a salesperson is a

• tip

• wage

• bonus

• commission

Income earned by workers who are self-employed is called

• profit

• capital gains

• gratuity

• entrepreneurial income

Wages or salaries and benefits paid to employees is

• compensation

• indirect tax

• work-life balance

• piecework

Money paid for service beyond what is required

• piecework

• tip

• wage

• commission

Wage based on a rate per unit of work completed.

• tip

• commission

• piecework

• profit

Amount of time an individual spends at work compared to the amount of time spent in his or her personal life is

• free time

• life

• work-life balance

• adulting

Total income before payroll deductions

• gross pay

• net pay

Income after all deductions. The amount you get.

• gross pay

• net pay

Payment for work that is usually calculated on an hourly, daily, or piecework basis.

• wage

• tip

• commission

• profit