Chapter 1 Test

Match each of the following terms with the phrase that describes it. Answers are used only once. Repeating time frame used to calculate and pay wages.

• Commission

• Bartering

• Employee

• Employee

• Entrepreneur

• Entrepreneur

• Employer

• Employer

• Bartering

• Commission

Match each of the following terms with the phrase that describes it. Answers are used only once. Income that does not come from work.

• Employee

• Entrepreneur

• Entrepreneur

• Employer

• Bartering

• Employee

• Employer

• Bartering

• Commission

• Commission

Match each of the following terms with the phrase that describes it. Answers are used only once. Fixed compensation.

• Employer

• Bartering

• Commission

• Commission

• Entrepreneur

• Employer

• Bartering

• Entrepreneur

• Employee

• Employee

Match each of the following terms with the phrase that describes it. Answers are used only once. A person who starts a business venture.

• Bartering

• Entrepreneur

• Employer

• Employer

• Employee

• Bartering

• Commission

• Commission

• Entrepreneur

• Employee

Match each of the following terms with the phrase that describes it. Answers are used only once. Extra pay for working more than 40 hours in a week.

• Employee

• Commission

• Entrepreneur

• Entrepreneur

• Commission

• Employer

• Bartering

• Bartering

• Employer

• Employee

Indicate whether the statement is true or false. 11. Trading items other than money is known as bartering.

• True

• False

Indicate whether the statement is true or false. 12. Most employers are required to pay employees a minimum wage.

• True

• False

Tags

CCSS.RI.11-12.5

CCSS.RI.9-10.5

CCSS.RI.11-12.3

CCSS.RI.9-10.3

CCSS.RI.8.3

Indicate whether the statement is true or false. 13. The law requires employers to pay double time for hours worked in excess of 40 hours in a week.

• True

• False

Indicate whether the statement is true or false. 14. Gross pay includes salary and bonus.

• True

• False

Indicate whether the statement is true or false. 15. A biweekly pay period involves paying employees twice a week.

• True

• False