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9 Cards in this Set

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  • Back
What is a wage ?


A wage is given as an hourly rate and employees are normally paid weekly.



What is a salary?
A salary is an annual rate and are paid monthly on a date specified in the contract of employment.
What is gross pay?

gross pay is the amount of salary or wage paid to the employee by an employer before any deductions are taken.



What is net pay?
Net pay is the amount after the deductions have been taken.
What is a piece rate?
Piece rate is the pay for a piecework.
What is overtime?
overtime is extra pay for working longer than normal hours, often at a higher rate than normal pay.
What is commission?
Comi