| A | B |
|---|
| Commission | Percent of sales received as payment for sales achieved. |
| Salary | Fixed amount of money paid to an employee for each pay period worked. |
| Gross Pay | Total amount of money that an employee is paid. |
| Net Pay | Difference between gross pay and deductions. |
| Interest | Money paid to a person or institution for the privilege of using other's money. |
| Overdrawn | Writing checks against an account for more money than is in the account. |
| Withholding Tax | Income tax that is deducted from gross wage. |
| Taxable Income | Income on which tax is paid. |
| Budget | Future spending plans. |
| Inflation | A rise in the prices of goods and services. |
| Transaction | Something that has to be recorded such as a deposit or withdrawal. |
| Deduction | Subtractions from gross pay. |
| FICA | Federal Insurance Contributions Act |
| Hourly Rate | Employees who are paid by the hour. |
| Salary | Employees who are paid a fixed amount of money for each pay period worked. |
| Exemption | An amount of income that is free from tax. |
| Flat tax | A tax rate that stays the same for every person regardless of the amount of income they earn in a year. |
| under-budget | Spending less than what was budgeted. |
