BUSINESS MATH CHAPTER 1 EXAM
QUESTIONS AND ANSWERS
Calculate - ANSWER-To determine by mathematical process
Graduated Commission - ANSWER-Pay based on a different rate of commission for
each of several levels of sales
Candidate - ANSWER-One likely or suited to undergo or to be chosen for something
specified
Fixed - ANSWER-Not subject to charge or fluctuation
rate - ANSWER-a charge payment or price fixed according to a ratio, scale, and
standard
compute - ANSWER-to determine especially by mathematical means
Weekly Time Card - ANSWER-Daily record of the time you report to work and the time
you depart
Piecework - ANSWER-a worker receives a specified amount of money for each item of
work completed
double time - ANSWER-An overtime pay time of twice the regular hourly rate.
time and a half - ANSWER-An overtime pay rate of 1 1/2 times the regular hourly rate.
Straight-time pay - ANSWER-The total amount of money earned for a pay period at the
regular hourly rate.
Hourly rate - ANSWER-a fixed amount of money paid for each hour of work.
service - ANSWER-useful labor that does not produce a tangible commodity
Gross Income - ANSWER-the total amount paid during a pay period
Overtime Pay - ANSWER-extra pay for hours worked beyond the regular number of
hours
incentive - ANSWER-something that incites or has a tendency to incite to determination
or action
commission - ANSWER-An amount of money paid for selling a product or service
QUESTIONS AND ANSWERS
Calculate - ANSWER-To determine by mathematical process
Graduated Commission - ANSWER-Pay based on a different rate of commission for
each of several levels of sales
Candidate - ANSWER-One likely or suited to undergo or to be chosen for something
specified
Fixed - ANSWER-Not subject to charge or fluctuation
rate - ANSWER-a charge payment or price fixed according to a ratio, scale, and
standard
compute - ANSWER-to determine especially by mathematical means
Weekly Time Card - ANSWER-Daily record of the time you report to work and the time
you depart
Piecework - ANSWER-a worker receives a specified amount of money for each item of
work completed
double time - ANSWER-An overtime pay time of twice the regular hourly rate.
time and a half - ANSWER-An overtime pay rate of 1 1/2 times the regular hourly rate.
Straight-time pay - ANSWER-The total amount of money earned for a pay period at the
regular hourly rate.
Hourly rate - ANSWER-a fixed amount of money paid for each hour of work.
service - ANSWER-useful labor that does not produce a tangible commodity
Gross Income - ANSWER-the total amount paid during a pay period
Overtime Pay - ANSWER-extra pay for hours worked beyond the regular number of
hours
incentive - ANSWER-something that incites or has a tendency to incite to determination
or action
commission - ANSWER-An amount of money paid for selling a product or service
