Shared Flashcard Set

Details

chapter 7
N/A
11
Finance
12th Grade
05/07/2012

Additional Finance Flashcards

 


 

Cards

Term
Earned income
Definition
is the incone you receive from employment.
Term
wage
Definition
is payment for work and is usually computed on hourly,daily,or piecework basis.
Term
Minimum wage
Definition
the lowest an employer can earn hourly
Term
piecework income
Definition
is wage based on rate per unit of work completed
Term
salary
Definition
is payment for work that is expressed as an annual figure
Term
Commission
Definition
is income paid as percentage of sale made by a saleperson
Term
tips
Definition
or gratuity, money paid for service beyond what is required.
Term
Bonus
Definition
money added to an employees base pay
Term
Compensation
Definition
payment and benefits received for work perfromed
Term
Employee benifit
Definition
is a form of nonmontary compansation
Term
Gross income
Definition
wages or salary before payroll
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