The Main Purpose of Pay- For- Knowledge Compensation Schemes Is

question 19

Multiple Choice

The main purpose of pay- for- knowledge compensation schemes is

• A)to get around union seniority provisions.
• B)to give workers the incentive to learn a broad range of skills in workplaces which use self- directed work teams.
• C)to simplify payroll administration.
• D)to encourage workers to buy and read books.
• E)to encourage competition between team members.

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Definitions:

Fraudulent Preference

A debtor’s payment of money to one creditor to give that creditor preference over the other creditors.

Breach of Contract

The violation of any of the agreed-upon terms and conditions of a binding contract, which may result in legal action.

Chartered Banks

Chartered Banks are financial institutions that have been granted a charter or license by the government, allowing them to operate and offer a range of banking services, such as accepting deposits and making loans.

Secured Creditor

A creditor who has a claim on property of the debtor, giving him priority on that property over other creditors.