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Work Compensation and Forms
Vocab
6
Finance
10th Grade
04/04/2012
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Term
Wage
 Definition
Amount of money paid for a specified quantity of labor; ex: hour
Term
Salary
 Definition
Set amount of money paid for a set period of time worked
Term
Commission
 Definition
Income paid as a percentage of sales made by a salesman
Term
Tips (Gratuity)
 Definition
Money paid by customers to those who provide services
Term
Production
 Definition
Compensdation paid based on number of pieces or items produced.
Term
Bonus
 Definition
Money paid in addition to base pay;reward for performance or a share of profit
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