12-1 Flashcards
1
Q
wage
A
The amount paid to an employee for every hour worked.
2
Q
salary
A
A fixed annual sum of money divided among equal pay periods.
3
Q
commission
A
method of paying an employee based on the amount of sales the employee generates. Commissions are normally calculated as a percent of an employee’s sales.
4
Q
total earnings
A
The total amount paid by a business for an employee’s work, earned by a wage, salary, or commission.
5
Q
pay period
A
The number of days or weeks of work covered by an employee’s paycheck.
6
Q
payroll
A
The total amount earned by all employees for a pay period.
7
Q
payroll clerk
A
The accounting staff position that compiles and computes payroll data, then prepares, journalizes, and posts payroll transactions.
