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26 Cards in this Set
- Front
- Back
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Salary |
Earn certain amount of money no matter how many hours you work |
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Hourly wage |
Amount you make per hour |
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Overtime |
1.5 times hourly wage |
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Time and a half |
1.5 times the regular hourly wage |
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Double time |
Twice regular wage |
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Gross pay |
Amount employee is paid before payroll deductions |
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Net pay |
Amount employee receives after FICA and income tax
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Take home pay |
Net pay minyus deductions the employee has authorized his employer to withold and apply |
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Weekly pay |
Once a week |
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Biweekly pay |
Once every two weeks |
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Semimonthly Pay |
Twice each month |
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Monthly pay |
Once each month |
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Payroll decutions |
Money subtracted from worker's gross pay |
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FICA |
Federal insurance contributions act |
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Taxable income |
amount subject to taxation |
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Commisions |
Percentage of their total sales |
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Piecework |
Taking the number of items completed and rate per item |
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Stocks |
Security represeenting part ownership in a corporation |
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Disposable income |
Employee's net income minus the tithe |
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Gross income |
Total of all sources of income for an employee before subtracting any business expenses or payroll deductions |
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Net income |
for an employee recieving a salary, gross income minus payrate deductions for income taxes and FICA |
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Tithe |
10% of gross income |
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Budget |
Carefully designed projection of expected income and expenditures |
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Check endorsement |
signing the back of the check |
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Non-sufficient funds |
Not having enough money |
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Compound interest |
Compute interest on the sum of the principle and any interest accumulated to date |
