What do the following letters stand for? Write each answer in the space provided - Leaving Cert Business - Question 1 - 2018
Question 1
What do the following letters stand for? Write each answer in the space provided.
DIRT
PIN
PAYE
Worked Solution & Example Answer:What do the following letters stand for? Write each answer in the space provided - Leaving Cert Business - Question 1 - 2018
Step 1
DIRT
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Answer
DIRT stands for Deposit Interest Retention Tax. This is a tax deducted from interest earned on savings in deposit accounts.
Step 2
PIN
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Answer
PIN stands for Personal Identification Number. It is a secret numeric code used to authenticate a user.
Step 3
PAYE
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Answer
PAYE stands for Pay As You Earn. This is a system where income tax is deducted from an employee's earnings before they receive their salary.
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