ABEKA BUSINESS MATH TEST 10 UPDATED ACTUAL QUESTIONS AND CORRECT ANSWERS

ABEKA BUSINESS MATH TEST 10 UPDATED ACTUAL
QUESTIONS AND CORRECT ANSWERS

Question:
1. Hours worked x hourly rate =
Answer:
gross pay

Question:
2. FICA tax = gross pay x _______%
Answer:
7.65

Question:
3. Overtime rate = regular pay per hour x _____
Answer:
1.5

Question:
4. If an employer pays for full half hours, and an employee clocks in late, the employer does not pay for
the first half hour. True or False
Answer:
True

Question:
5. If an employer pays for full half hours, and an employee clocks out a few minutes late at the end of the
day, the employer pays for the minutes worked. True or False
Answer:
False

Question:
6. Commission = Sales x ________________
Answer:
rate of commission

Question:
7. Rate of commission = Commission / _____________
Answer:
Sales

Question:
8. Sales = _____________ / rate of commission
Answer:
commission

, Question:
9. Gross pay - ____________________ = net pay
Answer:
deductions

Question:
10. To find a percent using the ratio method, set up a ratio where the percentage is to ____________ as x is
to the base, and then solve for x. OR where x is to the percentage as the base is to ___________.
Answer:
100

Question:
11. The formula method for percent uses the formula _____________, where you plug in the known values
and solve for the unknown.
Answer:
P=RB

Question:
12. To find the whole amount in a percent problem, using the decimal method, write the percent as a
______________, and divide the percentage by it.
Answer:
decimal

Question:
13. Another name for FICA tax is ________ _________ tax
Answer:
Social Security

Question:
14. On your income tax return, income tax is calculated based on your _____ _____, which is income after
either standard or itemized deductions have been subtracted.
Answer:
taxable income

Question:
15. A copy of the _____ form is provided by your employer and is used to complete your income tax
return, and submitted to the IRS.
Answer:
W-2

Question:
16. A _____ form is completed by the employee and given to the employer, and informs the employer how
much tax to deduct from the employee's pay.
Answer:
W-4