Second Quarter Test in Business Math

Second Quarter - Exam in Business Mathematics
Name:__________________________________________ Date:________________
Strand/Section: __________________________________ Score:_______________
Direction: Write the letter of the correct answer on the space provided before each
number.
Multiple Choice.
_____1. The amount of money received by an employee or agent for performing a
business transaction or wages.
a. Commission b. Wage c. Salary d. Bonus
_____2. A commission type which means that the rate of commission increases as the
sales increases.
a. Straight c. Salary plus Commission
b. Graduated d. Customized
_____3. A type of commission where a salesperson gets paid a salary and a percentage
of sales.
_____4. A type of commission where in a salesperson gets paid a percentage of his/her
total sales.
_____5. David is paid a monthly salary of P12, 000 and earns a commission of 4% in
sales. What type of commission does David have?
_____6. Charlie receives 5% commission on all his sales up to P12, 000 and is given 7%
on all sales in excess of P12, 000. What type of commission is this?
_____7. Carla works on a “commission only” basis and receives 3% on her monthly sales
without a base salary. What type of commission is this?
_____8. Some companies apply this type of commission to encourage their agents to
sell more goods.
_____9. A real estate agent sold a property worth P50, 000, his commission is 7.5%.
How much does she received?
a. P3, 000 b. P3,750 c. P2, 000 d. P2, 750
_____10. Find the amount of commission that Gina will receive if her commission rate is
5% and his total sales is P100, 000.
a. P5, 000 b. P3,750c. P2, 000 d. P2, 750
_____11. What is the other word for book balance?
a. Book increase c. Commission
b. Gross balance d. Increased balance
_____12. Refers to the total amount of money a bank has on deposit before adjusting to
uncleared check.
a. Interest c. Down payment
_____13. It is the first payment that one makes when he/she buys something with an
agreement to pay the rest later.
a. Interest c. Down payment
_____14. Lino wants to have a motorcycle for installment he needs to pay 10% as down
payment of the total amount which is P90, 000. How much will the down payment cost?
a. P9, 000 b. P9,750c. P15, 000 d. P10, 750
_____15. If the down payment of a house and lot is 5% of its total amount l, how much
will you pay for the down payment if it cost 1.5 million?
a. P30, 000 b. P50,750 c. P75, 000 d. P105, 750
_____16.It is usually associated with employee compensation that is based on the
number of
hours worked multiplied by an hourly rate of pay.
A. salary B. wage C. income D. benefit
_____17. It is a fixed amount usually associated with employee compensation usually
received on
a monthly or semi-monthly basis, but it may be quoted in an annual sum.
_____18. It is an employee compensation given by an employer other than the basic
salary/wage.
It may come in the form of cash or in kind.
_____19.It is the total amount that people earn in exchange of the goods, employment,
businesses, investments and professional services that they have rendered.
_____20. These are employees who are under the “no work, no pay” policy.
A. income earner C. salary earner
B. benefit earner D. wage earner
_____21. These are employees who are not paid less if they work for only a fraction of
the required
number of hours of work.
A. income earner C. salary earner
B. benefit earner D. wage earner
_____22. It is a type of income where the payment is not directly tied to active work but
usually
front-loaded with active work and gets paid with small amount, while the bulk of
income
comes later.
A. captive B. active C. abusive D. passive
_____23. It is a type of income where you do the work and you are paid for that work.
A. captive B. active C. abusive D. passive
_____24. Which of the following is a salary earner?
A. carpenter B. service crew C. teacher D. factory worker
10.Which of the following is a wage earner?
A. engineer B. manager C. lawyer D. private tutor
_____25. A delivery man in a chicken store earns ₱350 daily. How much will he earn if
he worked
20 days in a month?
A. ₱3,500 B. ₱7,000 C. ₱14,000 D. ₱28,000
_____26.Yvan, who works in a car wash, is paid ₱75 per hour of work. How much will he
earn in
bi-weekly if he rendered 48 hours of work each week?
A. ₱3,600 B. ₱4,800 C. ₱7,200 D. ₱14,400
_____27.If an assistant principal in a private school is being offered a salary of ₱13,000
every two
weeks. How much will be his annual salary?
A. ₱26,000 b. ₱130,000 c. ₱156,000 d. ₱312,000
_____28.A Senior Police Officer I (SPO1) of the Philippine National Police (PNP) has a
monthly
basic pay of ₱33,411. How much will be his annual salary?
A. ₱16,705 B. ₱66,822 C. ₱334,110 D. ₱400,932
_____29.Antonio works as a part-time crew in a fast food chain in the city with the
following
schedule for one week: Monday, 5 hours; Tuesday, 6 hours; Wednesday, 4 hours;
Thursday, 6 hours; Friday, 3 hours. If he was paid ₱104.25 an hour, how much will he
get for the week?
A. ₱2,502 B. ₱2,919 C. ₱3,336 D. ₱3,544
_____30.It is a fixed regular payment typically paid on a monthly or biweekly basis.
A. gross earning C. net earning
B. deduction D. none of the above
_____31. It is the amount earned by any person before subtracting the taxes, loans, and
other possible deductions.
B. deduction D. Salary
_____32. It is the total amount earned by any person before deductions are made.
_____33. It is a fixed amount or a percentage of the basic salary held by any authority as
a form
of necessary dues.
_____34.It is the amount earned by any person from the gross earnings less the total
deductions.
_____35. Mr. Reyes has a monthly basic salary of ₱30,000. He also receives a 5%
commission for
his total sales. If he has a total sales of ₱100,000, how much is his gross earnings for
the month?
A. ₱5,000 B. ₱35,000 C. ₱130,000 D. ₱135,000
_____36. If gross earning is ₱30,000 and deduction is ₱5,000, what is net earning?
A. ₱25,000 B. ₱35,000 C. ₱40,000 D. ₱45,000
_____37. Ms. Nicdao has a total monthly deduction of ₱3,280. If her take-home pay is
₱21,250,
how much is gross earning for working this month?
A. ₱3,280 B. ₱21,250 C. ₱17,970 D. ₱24,530
_____38. The monthly total deduction from Mr. Agoncillo’s gross income is 5%. If his
monthly
gross income is ₱28,000, how much will be his deductions?
A. ₱1,400 B. ₱14,000 C. ₱26,600 D. ₱29,400
_____39. Antonette got a take-home pay of ₱17,300. If her gross income for the month
is ₱20,000,
how much was deducted from her total earnings?
A. ₱2,300 B. ₱2,700 C. ₱17,300 D. ₱37,300
_____40. Mr. Lim’s annual net income is ₱450,000. What is his annual gross income if
his annual
deduction is 10% of his gross?
A. ₱300,000 B. ₱400,000 C. ₱500,000 D. ₱600,000
_____41. Mang Cardo receives ₱450 per day of work. What will be his gross income if he
worked
25 days last month and received ₱2,000 for cash allowance?
A. ₱11,250 B. ₱12,250 C. ₱13,250 D. ₱14,250
_____42. An employee’s monthly deduction is 8% of his monthly gross income. If his
monthly
gross income is ₱25,000, what is her take-home pay?
A. ₱2,000 B. ₱8,000 C. ₱23,000 D. ₱27,000
_____43. An employee receives 93% of his gross income due to required deductions. If
his
monthly gross income is ₱40,000, how much is his net pay?
A. ₱33,300 B. ₱35,100 C. ₱36,900 D. ₱37,200
_____44. Mr. Pallasigui, has a monthly salary of ₱35,000. He pays his monthly
contributions:
₱2,560.42 for income tax, ₱800 for SSS, ₱525 for PhilHealth and ₱100 for Pag-Ibig. How
much will be his total deductions?
A. ₱3,985.42 B. ₱10,319.33 C. ₱29,181.67 D. ₱40,818.33
_____45. Jenny receives a monthly salary of ₱23,000. Every month, she has to pay her
monthly
contributions: ₱184.33 for income tax, ₱800 for SSS, ₱345 for PhilHealth and ₱100 for
Pag-Ibig. How much will be her take-home pay?
A. ₱997.55 B. ₱1,231.37 C. ₱21,570.67 D. ₱22,766.82
_____46. Jun-Jun is exempted from paying the income tax but is required to pay his
monthly
contributions: ₱1,350 for GSIS, ₱225 for PhilHealth, and ₱100 for Pag-Ibig. How much
is his gross income if his take-home pay is ₱13,325?A.₱15,000.00 B. ₱16,000.00 C.
₱17,000.00 D. ₱18,000.00
_____47. Dianne works as a secretary and earns ₱180,000 annually. If she is paid semi-
monthly, how much does she get every pay day?
A.₱5,000.00 B. ₱7,500.00 C. ₱8,000.00 D. ₱9,000.00
_____48. Mang Lando, an auto mechanic, is paid ₱80 per hour of work. How much will
he earn in 4 weeks if he rendered 30 hours of work each week?
A.₱9,000.00 B. ₱9,500.00 C. ₱9,600.00 D. ₱9,700.00
_____49. If a security guard in a five-star hotel is being offered a salary of ₱12,000 every
two weeks. How much will be his annual salary?
A.₱312,000 B. ₱313,000 C. ₱314,000 D. ₱315,000.00
_____50. A promodiser selling appliances in a department store receives his pay check
bi-weekly. If the daily rate is ₱600 and works 6 days a week, how much will he receive
every pay day?
A.₱7,000 B. ₱7,100 C. ₱7,200 D. ₱7,300
_____51.Felix works as a call center agent. His daily rate is ₱1000. If he works 6 days a
week, how much will he earn every pay day if he is paid bi-weekly.
A.₱12, 000 B. ₱12,100 C. ₱12,200 D. ₱12,300
_____52. A payment or gift made by an employer, state, or an insurance company.
A. Wage C. Salary
B. Income D. Benefit
_____53. Money earned by working or through investment
A. Wage C. Salary
_____54. A fixed regular payment typically paid on q daily or weekly basis.
A. Wage C. Salary
_____55. This benefit is like savings account. This will be receive after the employee's
service.
A. Retirement C. Bonus/ Allowance
B. Maternity/ Paternity Benefit D. 13th month pay
_____56. This benefit can only be availed by male/female employee, when the female
employee deliver a child.
_____57. These are some amount given by the company to their employees for them to
enjoy.
B. Maternity/ Paternity Benefit D. Holiday pay
_____58. Refers to payment to payment of the regular daily wage for any non-working
regular holiday.
B. Maternity/ Paternity Benefit D. Holiday pay
_____59. This is what an employee will receive computed as 1/12 of the average
monthly salary of an employee.
_____60. These are government run agencies mandated to promote social justice and
provide meaningful protection to members and their families against hazard disability,
sickness, maternity and etc.
A. GSIS and SSS C. Philhealth
B. PAG-IBIG D. DSWD

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Second Quarter - Exam in Business Mathematics

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