Business Chapter1 Flashcards
1
Q
Benefit in kind
A
Non money payment perks
2
Q
Bonus payments
A
Some employers reward employees with extra payments for reaching their targets
3
Q
Commission
A
Sales staff receive a payment based on the value of the goods or services they sold
4
Q
Discretionary income
A
Income left over after you have paid taxes and essential payments
5
Q
Gross pay
A
Total pay before any deductions
6
Q
Income plan
A
A plan of all income for a coming period
7
Q
Net pay
A
The amount left over after all deductions
8
Q
Piece rate
A
Calculation based on the number of items completed
9
Q
PRSI
A
Pay Related Social Insurance
10
Q
Statutory deductions
A
Deductions from income that it is required by law to pay
11
Q
Time rate
A
Wage calculation based on the number of hours worked
12
Q
USC
A
Universal Social Charge
