Which of the Following Statements Is NOT Correct

question 28

Multiple Choice

Which of the following statements is NOT correct?

• A)Credit unions are supervised by APRA.
• B)To use the services of a credit union a customer must be a member.
• C)Credit unions are not subject to capital regulation.
• D)Credit unions include redeemed preference shares as part of the reserves in the capital account.

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Definitions:

Incentive Pay

A form of compensation designed to reward employees for achieving specific performance targets or outcomes, promoting increased productivity and motivation.

Profit Sharing

A corporate program where employees receive a share of the company’s profits, typically provided as part of their compensation package.

Individual Incentives

Rewards or bonuses given directly to employees based on their individual performance level, achievements, or outcomes.

Straight Piecework Plan

A compensation system where workers are paid a fixed rate for each unit produced or action completed, encouraging productivity.