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8731206
Income
Descripción
Quiz on Income
Sin etiquetas
quiz
junior certificate
business
income
business studies
business studies
the business of living.
junior certificate
Test por
Lauren Mcguane
, actualizado hace más de 1 año
Más
Menos
Creado por
Lauren Mcguane
hace más de 7 años
12
1
0
Resumen del Recurso
Pregunta 1
Pregunta
What is income?
Respuesta
Money you receive
Money you spend
Pregunta 2
Pregunta
What is a benefit in kind?
Respuesta
Money income (cash)
non money income eg a company car
Pregunta 3
Pregunta
What is regular income?
Respuesta
It is changeable income (it can differ)
It is income you are sure of receiving
Pregunta 4
Pregunta
What it additional income?
Respuesta
income you are not sure you will receive.
fixed income, it never changes
Pregunta 5
Pregunta
What is pocket money?
Respuesta
additional income
A small weekly sum of money given to children as an allowance.
Pregunta 6
Pregunta
Wjhat are wages?
Respuesta
money received as a bonus
Is regular income for hours worked or number of goods produced.
Pregunta 7
Pregunta
What is a salary?
Respuesta
Is regular income received for doing a job no matter how many hours you spend at it.
income that changes with the amount of hours spent at it
Pregunta 8
Pregunta
What is a Tax refund?
Respuesta
Money back from the government when too much tax has been paid.
money you have to pay to the government (statutory deductions)
Pregunta 9
Pregunta
Family income support (FIS) is given to families on high income
Respuesta
True
False
Pregunta 10
Pregunta
What is child benefit?
Respuesta
Regular income received once a month from the government if you have children under the age of 16.
Regular income received from the government or a pension fund when you retire.
Pregunta 11
Pregunta
What is Social Welfare?
Respuesta
Regular income receive weekly from the government if you are unable to work.
Addition income received when you invest money in the bank.
Pregunta 12
Pregunta
What is a Pension?
Respuesta
Regular income received when you let out your house or a room in your house.
Regular income received from the government or a pension fund when you retire.
Pregunta 13
Pregunta
what is Interest on savings?
Respuesta
money paid to the government.
Addition income received when you invest money in the bank.
Pregunta 14
Pregunta
What is inheritance?
Respuesta
Additional income received from a relative or friend when they die.
Additional income calculated as a percentage of sales.
Pregunta 15
Pregunta
what is a gift?
Respuesta
Additional income received when you have own part of a company and you receive a share of the profits.
Additional income received from a relative, friend or employer.
Pregunta 16
Pregunta
what are dividends on shares?
Respuesta
Additional income received when you have own part of a company and you receive a share of the profits.
Additional income given for reaching certain targets.
Pregunta 17
Pregunta
Time rate is money per hours worked
Respuesta
True
False
Pregunta 18
Pregunta
Getting paid per number of hours worked
Respuesta
True
False
Pregunta 19
Pregunta
What is commission?
Respuesta
Additional income calculated as a percentage of sales.
Regular weekly payment for normal hours worked.
Pregunta 20
Pregunta
What is a bonus?
Respuesta
You have a choice if you want to take these out of your wages
Additional income given for reaching certain targets.
Pregunta 21
Pregunta
What is Basic pay?
Respuesta
Additional payment for working over your normal hours.
Regular weekly payment for normal hours worked.
Pregunta 22
Pregunta
What is overtime?
Respuesta
Basic pay + overtime after deductions
Additional payment for working over your normal hours.
Pregunta 23
Pregunta
What is Net wage? (take home pay)
Respuesta
Basic pay + overtime after deductions
Basic Wage + Overtime before deductions
Pregunta 24
Pregunta
What is gross wage?
Respuesta
Basic Wage + Overtime before deductions
wages after deductions (take home pay)
Pregunta 25
Pregunta
what are voluntary deductions?
Respuesta
You do not have a choice these must be taken from your wages.
You have a choice if you want to take these out of your wages.
Pregunta 26
Pregunta
what are statutory deductions?
Respuesta
You do not have a choice these must be taken from your wages.
money made from investing in a bank (Interest)
Pregunta 27
Pregunta
What are the consequential benefits of PAYE
Respuesta
Old Age Pension
Use of national roads
Education in schools
Use of a public ward in the hospital
Pregunta 28
Pregunta
What are the consequential benefits of paying PRSI
Respuesta
Old Age Pension
Unemployment Benefit
Use of national roads
Maternity Benefit
Sickness Benefit
Education in schools
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