Which of the Following Is Correct with Regard to Compensation

question 27

Short Answer

Which of the following is correct with regard to compensation?
The term "compensation" refers to a number of different elements, including base salary, incentives, bonuses, benefits, and other rewards that employees receive.
There is a general consensus in society that top managers deserve the high compensation they receive because their jobs are very complex and demanding.
The average hourly wage in manufacturing is lower than the average hourly wage in retailing.
Job evaluation is a method for determining whether a worker in a given job should be paid a wage or a salary.
All of these are correct.

---

Definitions:

Saving

The process of setting aside a portion of current income for future use, or the funds that have been set aside for such purposes.

Disposable Income

Financial holdings households can direct towards spending and saving activities after tax deductions.

Consumption

The act of using up goods and services to satisfy human needs and wants, considered a principal component of GDP.

Durable Goods

Goods that are intended to last for a long period of time, such as cars, appliances, and furniture, typically requiring more significant investment than non-durable goods.