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Exam Grade 11 > Bussin Math (Final Quarter) > Flashcards

Bussin Math (Final Quarter) Flashcards

1
Q

amount added to the original selling price

A

Mark-up

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2
Q

mark up + original price

A

Selling Price

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3
Q

refers to the deduction in the original price

A

Mark-down / Discount

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4
Q

Original Price - Discount

A

Sale Price

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5
Q

A fee paid to person who
makes a sale. The
__________ is usually a
percent of the selling
price.

A

Commission

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6
Q

In commission, The percent is called the __________ ____

A

Commission Rate.

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7
Q

A person is paid a
percentage of his/her
sales only.

A

Straight
Commission

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8
Q

A person is being a paid a
guaranteed salary plus a
commission on total sales.

A

Salary plus
commission

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9
Q

Commission rate
increases as the sales
volume increases

A

Graduated or
Incremental
Commission

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10
Q

A fixed amount usually
associated with employee
compensation. It usually
received on a…
● Monthly
● Semi-monthly
● Annual sum

A

Salary

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11
Q

➢ These are the employees who receive the salaries and usually get paid every 15 days (semi-monthly).
➢ They are not paid for working overtime.

A

Salary Earners

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12
Q

It is usually associated with
employee compensation that is based on the number of hours or days worked multiplied by
an hourly/daily rate of pay.

A

Wage

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13
Q

➢ These are the employees who receive
the wages and usually get paid either
weekly or monthly depending on the
employer’s convenience.
➢ These employees are under the “no work, no pay” policy

A

Wage Earners

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14
Q

the total amount that people earn in exchange of the
goods, employment, businesses, investments and
professional services that they have rendered.

A

Income

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15
Q

Types of Income

A

Active and Passive

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16
Q

When you DO
the work and
are paid for that
work.

A

Active

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17
Q

When the
payment is
NOT directly
tied to active
work.

A

Passive

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18
Q

payment for the commission on sales.

A

Commission

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19
Q

payment from rentals of
properties and real estates.

A

Rental income

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20
Q

from partnerships

A

Dividends

21
Q

payment for authors

A

Royalties

22
Q

such as crops, fish and other products.

A

Goods

23
Q

Source of Income

A

➢ Commission
➢ Rental income
➢ Dividends
➢ Royalties
➢ Goods

24
Q

Employee compensation given by an
employer other than the basic salary/wage.

A

Benefits

25
Q

the rate was set per region,
province and industry.

A

Minimum wage

26
Q

an additional compensation given to an employee who renders service beyond the maximum number of working hours per day (8 hrs. per day). At
least 125% of the employee’s hourly rate.

A

Overtime pay

27
Q

additional compensation if an employee worked within 8 hrs during non-working
holidays such as rest days and special holidays.

A

Premium pay

28
Q

Based on the Labor code, all
employees shall be paid with their daily basic wage for
regular holidays, whether they work or not.

A

Holiday pay

29
Q

additional 10% for any
hours worked between 10pm to 6am.

A

Night shift differential

30
Q

monetary bonus which is
mandated by the law. One-month basic pay given either
in two installments (May and December).

A

13th Month pay

31
Q

amount collected by some
restaurants, hotels, night clubs and etc. 85% of the total charges will go to employee.

A

Service Charges

32
Q

five days of leaves with
pay which can be used in sick/vacation leave purposes.

A

Service Incentive Leaves

33
Q

Parental leaves

A

a. Maternity
b. Paternity
c. Solo parent

33
Q

Based on Expanding Maternity Leave Bill, pregnant employee 105 days of maternity leave with full pay.

A

Maternity

34
Q

7 days of fully paid leave to married fathers.

A

Paternity

35
Q

7 days leave with pay.

A

Solo parent

36
Q

Special Leaves:

A

a. Magna Carta for Women
b. Leave for women and their children who are victims
of violence

37
Q

two months leave with full
pay as per R.A 9710

A

Magna Carta for Women

38
Q

As per R.A 9262, victims of violence against women are entitled to 10 days leave with full pay.

A

Leave for women and their children who are victims of violence

39
Q

A regular employee who is validly dismissed or terminated from a company is entitled to this pay.

A

Separation Pay

40
Q

it is equivalent to at least half-month salary for every year of service. Employee who reach 60 – 65 may retire on work.

A

Retirement Pay

41
Q
  • mandatory and fixed amount or a percentage of the basic salary held by any authority as a form of necessary dues.
A

Standard Deduction

42
Q
  • All employees of private companies and enterprises in the Philippines are covered by the ______ ________ ______.
  • It is a government agency founded in 1957 which provides retirement and health benefits.
A

SSS Contribution

43
Q

The current SSS contribution rate effective April 2019 is ___ of the monthly
salary and this is being shared by the
employer ____ and the employee ___.

A

12%, 8%, 4%

44
Q
  • All employees (private and
    government), are to be members of this agency.
  • This agency helps the members and their beneficiaries in times of sickness.
A

Philhealth Contribution

45
Q
  • PhilHealth monthly premium is ______ _______ by the employer and employee.
A

shared equally

46
Q
  • All government employees (permanent and non-permanent) are members of the __________ _______ _________ ______
A

Government Service Insurance System
(GSIS).

47
Q
  • It is a government-owned and controlled
    corporation established to provide national
    savings program, short-term loans, and
    affordable shelter financing for the Filipino
    workers.
A

The Home Development Mutual Fund (HDMF),
more popularly known as the Pag-Ibig Fund.

Exam Grade 11 (39 decks)

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