Which Term Refers to the Process of Determining the Relative

question 11

Multiple Choice

Which term refers to the process of determining the relative worth of jobs in order to determine pay rates?

• A) job evaluation
• B) job analysis
• C) job determination
• D) job diagnosis

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Definitions:

Payback Period

The payback period is the length of time required to recover the cost of an investment.

Satisfactory Return

A level of profit or return on investment that meets or exceeds the expectations or benchmarks of an investor or manager.

Capital Budgeting

The process a business undertakes to evaluate potential major projects or investments.

Payback Period

The amount of time it takes for an investment to generate enough cash flow to recoup its original cost.