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- 1. Multiple Choice
Wages
A payment relating to the number of sales made.
Payment for work, usually paid weekly.
Payment for work, usually paid monthly.
An additional amount of payment above basic pay as a reward for good work.
- 2. Multiple Choice
Salary
A payment relating to the number of sales made.
Payment for work, usually paid weekly.
Payment for work, usually paid monthly.
An additional amount of payment above basic pay as a reward for good work.
- 3. Multiple Choice
Commission
A payment relating to the number of sales made.
Payment for work, usually paid weekly.
Payment for work, usually paid monthly.
An additional amount of payment above basic pay as a reward for good work.
- 4. Multiple Choice
Bonus
A payment relating to the number of sales made.
Payment for work, usually paid weekly.
Payment for work, usually paid monthly.
An additional amount of payment above basic pay as a reward for good work.
- 5. Multiple Choice
Profit sharing
A payment relating to the number of sales made.
A system whereby a proportion of the company's profit is paid out to employees.
Payment for work, usually paid monthly.
An additional amount of payment above basic pay as a reward for good work.
- 6. Multiple Choice
Advantages of wages include the following, EXCEPT...
The worker gets paid on a regular basis and does not have to wait long for money.
If an employee works longer, they will usually get paid more.
A clocking-in system is needed to track the number of hours worked.
Workers are motivated to work faster.
- 7. Multiple Choice
There are two ways wages are paid...
Time rate and piece rate
Time rate and hourly rate
Piece rate and salary
Piece rate and bonuses
- 8. Multiple Choice
All of the following are limitations of a commission, EXCEPT...
It encourages employees to push for sales
It is very stressful to the employee
It results in competition among staff
Customers may end up buying goods they don't really want
- 9. Multiple Choice
Fringe benefits include the following, EXCEPT...
free accommodation
company vehicle
free trips abroad/holidays
profit sharing
- 10. Multiple Choice
A bonus... (tick all the right answers)
helps workers feel 'recognised' and 'special'
has a positive motivating effect
is similar to a salary
May become 'expected' and workers will be disappointed if they do not receive it
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