Shared Flashcard Set

Details

income and taxes
vocabulary
8
Business
12th Grade
03/22/2013

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Cards

Term
salary
Definition
a set amount of money earned by an employee per year or other fixed length of time.
Term
wages
Definition
employee earnings that are paid by the hour, day, or item.
Term
piecework
Definition
work paid for according to the amount produced.
Term
commission
Definition
a fixed percentage or amount of profit given to an employer in exchange for making a sale.
Term
tips
Definition
money given to an employee by customers in exchange for a service.
Term
minimum wage
Definition
the lowest wage permitted by law or by a special agreement.
Term
overtime
Definition
time in addition to what is normal
Term
vested
Definition
secured in the possession of or assigned to a person
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