2.1

Question 1

Commission

Answer 1

Set fee for sale paid to an employee

Question 2

Disposable income

Answer 2

Money available to spend or to pay after taxes

Question 3

Dividends

Answer 3

A portion of a corporations profits or distributed to stockholders

Question 4

Entrepreneur

Answer 4

Takes risks to be self employed

Question 5

Excise Taxes

Answer 5

Taxes charged the purchase of specific goods

Question 6

Exemption

Answer 6

Person claimed dependent on a tax return

Question 7

Form W-2

Answer 7

Form of a report taxable income a worker receives

Question 8

Gross pay

Answer 8

Total salary or wages earned during the pay period

Question 9

In-Cash payment

Answer 9

Money in the form of checks, debit card, or other direct payment given to a person needing assistance

Question 10

In-Kind Payment

Answer 10

Payments made incorrectly on a person’s behalf or in a form other than money

Question 11

Medicare Tax

Answer 11

A tax that pays for medical care for retired persons

Question 12

Minimum wage

Answer 12

The lowest pay rate allowed by law for regular hour of work

Question 13

Net pay

Answer 13

The amount of your paycheck after deductions

Question 14

Overtime pay

Answer 14

Pay received for hour work in addition to regular hours

Question 15

Personal leave

Answer 15

Paid time away from work for personal reasons

Question 16

Profit sharing plan

Answer 16

A benefit where by employees may share in the profits of the
business

Question 17

Public goods

Answer 17

Government provide goods and services paid for taxes

Question 18

Retirement plan

Answer 18

An account into which employees contribute a portion of their earnings for their retirement; employees may match these contributions

Question 19

Sales taxes

Answer 19

Taxes levied on consumer purchases of goods a services

Question 20

Sick leave

Answer 20

Paid time away from work because of illness

Question 21

Social security tax

Answer 21

A withholding tax to provide old-age, survivors, and disability insurance

Question 22

Transferring payment

Answer 22

Money and benefit from, state, or federal governments

Question 23

Unearned income

Answer 23

Money received from sources other than working

Question 24

Use taxes

Answer 24

Taxes based on the use of the services provided by the government

Question 25

Benefits

Answer 25

Forms of pay other than salary