| A | B |
|---|
| entrepreneur | A(n) _____, or business owner, takes the risks of owning and operating a business. |
| unearned income | Money received from sources other than working in a job is called _____. |
| disposable income | Money left over to spend or save after taxes are paid is called _____. |
| paid holidays | Most companies have _____, such as Christmas, Veterans Day or Memorial Day. |
| personal leave | ______ is time away from work for personal reasons. |
| minimum wage | The lowest pay rate allowed by law for each hour of work is called _____. |
| tip | Money received from customers, called a(n) _____, is based on quality of service. |
| benefits | _____are forms of pay other than salary or wages, such as paid vacations or holidays. |
| sick leave | Days you are paid for even though you are not at work due to illness are called _____. |
| commission | Earnings that are paid only when efforts result in a sale are called a(n) _____. |
| overtime pay | Earnings paid when an employee works more than 40 hours in a 1-week period are called _____. |
| transfer payments | Money or benefits received from the government without working for them when they are received are called _____. |
| dividend | A(n) _____ is cash paid to stockholders of a corporation. |
| cafeteria plan | A benefits package, called a(n) _____ is where employees can pick and choose the benefit options they want to have. |
| excise taxes | _____ are taxes charged on the purchase of specific goods, such as motor fuel, cigarettes, and alcohol. |
| tax | A(n) _____ is a required payment for the support of a government. |
| profit | _____is the amount left after all costs are deducted from the income of a business. |
| benefits | forms of pay other than salary or wages |
| profit | the amount left over after all costs are deducted from the income of a business. |
| perks | provide emotional satisfaction or social status rather than money |
| premium | the price paid for health insurance |
| disability insurance | provides payments to replace income lost when illness or injury prevents the employee from working |
| 401K | a plan that allows employees to put aside money for retirement that is not subject to federal income tax at the time it is earned |
| profit-sharing plan | when a company does well, employees are paid a share of the profits |
| stock option plan | a company allows employees to buy stock in the company at a reduced price |
| health flexible spending arrangement | allows employees to set aside money to pay for qualified medical expenses |
| dividend | money shared with stockholders when a corporation makes profits |
| in-kind payments | people do not receive money directly--they get food stamps, rent subsidies and vouchers |
| in-cash payments | money in the form of a check, debit card or other direct payment |
| income tax | taxes paid by people on earned and unearned income |
| deductions | money withheld from a paycheck for income tax, social security tax, medicare tax and other taxes |
| W-4 form | a form used to show the number of exemptions a person is claiming for federal and state income tax purposes |
| exemptions | persons you can claim on your tax return as dependents |
| social security tax | the purpose of this tax is to provide a system of old-age, survivors and disability insurance |
| medicare tax | this tax pays for medical care for retired persons and those who receive Social Security benefits |
| I-9 form | employment eligibility verification form to verify that workers are eligible for employment |
| workers' compensation insurance | insurance plan that pays medical and disability benefits to workers who are injured or contract diseases on the job. |
| W-2 form | form used to report the taxable income a worker received during the calender year |
| 1040EZ form | Federal tax return form used by single and joint filers with no dependents |
| 1040A form | Federal tax return form consisting of more than one paye to be used when more options for income and deductions need to be entered |
