ABEKA BUSINESS MATH TEST 10 & 11 EXAM QUESTIONS AND ANSWERS

ABEKA BUSINESS MATH TEST 10 & 11
EXAM QUESTIONS AND ANSWERS
deposit slip - ANSWER-a form used by the deposited to add money to an account

dividend - ANSWER-portion of the profit

graduated - ANSWER-a corporation income tax is this; less tax is paid on the first
earnings and more tax is paid on the greater earnings

market value - ANSWER-the true worth of the property

mills - ANSWER-an amount per $1,000

outstanding check - ANSWER-checks in your register that do not appear on the
statement

prospectus - ANSWER-pamphlet of information you need to know before investing into
a mutual fund

transit - ANSWER-number that identifies a check; the top part of the group of numbers
in the top right corner of the check
Find the gross income for an employee who works 40 hours at 9.13 an hour -
ANSWER-365.20

Find the FICA tax paid on a gross income of 13655 at a rate of 7.65 - ANSWER-
1044.61

Find the overtime rate of 1.5 times the regular pay if the regular pay per hour is 6.58 -
ANSWER-9.87

Find the number of paid hours worked from 8:01am to 4:03pm assuming pay is for full
half-hours - ANSWER-7.5hr.

Find the commission on sales 1650 and a rate of commissions of 3.25 - ANSWER-
53.63

Find the rate of commission if the sales is 1475 and the commission is 59 - ANSWER-
4%

Find the amount of the sale if the commission is 250 and the rate is 5% - ANSWER-
5000

Find the net pay if the gross pay is 259.28 and deductions are 89.99 - ANSWER-169.29