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Which of the following is NOT one of the four basic types of compensation plans?
Labor Quantity
The amount of labor required or used in the production process, often measured in terms of hours or labor units.
Standard Cost
A predetermined cost of manufacturing, servicing, or marketing goods, used as a benchmark to measure performance.
External Financial Statement Reporting
The process of preparing and disclosing financial statements to external stakeholders, such as investors, creditors, and regulatory bodies, to provide insight into a company's financial health.
Generally Accepted Accounting Principles
A set of rules and standards for financial reporting that companies in the U.S. must adhere to.
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