Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Financial Literacy
| Term | Definition |
|---|---|
| Hourly Rate | The amount of money that is charged, paid, or earned for every hour worked. |
| Straight-time pay | The usual number of hours and the usual amount of pay for a period of work. |
| Gross Income | An individual's total personal income, before accounting for taxes or deductions. |
| Overtime Pay | Nonexempt employees may be paid by means of a salary. |
| Time and a Half | A rate of pay for overtime work equal to one and one half times the regular hourly wage. |
| Double time | A rate of pay equal to double the standard rate, sometimes paid for working on holidays or outside normal working hours. |
| Weekly Time Card | A card used with a time clock to record an employee's starting and quitting times each day or on each job. |
| Piecework | Work paid for according to the amount produced. |
| Salary | A fixed regular payment, typically paid on a monthly or biweekly basis but often expressed as an annual sum, made by an employer to an employee, especially a professional or white-collar worker. |
| Commission | An instruction, command, or duty given to a person or group of people. |
| Commission Rate | A fee paid for services, usually a percentage of the total cost. |
| Straight Commission | Salesperson compensation method in which only a percentage of the sales volume, but no fixed salary, is paid. |
| Graduated Commission | 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. |
Created by:
quinnballou
Popular Math sets