Which Pay-Setting Approach Places the Highest Relative Emphasis on External

question 28

Multiple Choice

Which pay-setting approach places the highest relative emphasis on external comparisons?

• A)Basing pay on market surveys that cover as many key jobs as possible.
• B)Deriving pay rates for all jobs based on the number of job evaluation points.
• C)Grouping jobs into a smaller number of pay grades.
• D)Basing pay on skills employees have acquired.

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Definitions:

General Partner

A type of partner in a partnership who is responsible for the day-to-day management of the partnership and is personally liable for the partnership's debts.

Misapplication Funds

Refers to the wrongful use or allocation of funds that were intended for a specific purpose.

Partnership Relationship

The legal and operational relationship existing between partners in a business venture, governed by a partnership agreement.

Obligations

Duties or responsibilities imposed by law, contract, or social norms.