MATCHING KEY TERMS AND DEFINITIONS

question 17

Multiple Choice

MATCHING KEY TERMS AND DEFINITIONS
-Pay based on how well the team performed.

• A)Team-based compensation
• B)Extrinsic rewards
• C)Compensation administration
• D)Ordering method
• E)Fair Labor Standards Act
• F)Performance-based rewards
• G)Wage structure
• H)Differential
• I)Organization-wide incentive
• J)Classification method
• K)Equal Pay Act
• L)Merit pay
• M)Golden parachute
• N)Compensation surveys
• O)Exempt

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Definitions:

Outside Directors

Board members who are not executives or employees of the company, providing independent oversight.

Business Contacts

Individuals or organizations with whom a company communicates or engages in transactions.

Revised Model Business Corporation Act

An updated set of model laws intended to assist states in drafting legislation that governs corporate formation, operation, and dissolution.

Corporate Directors

Individuals elected by shareholders to oversee the management and make major decisions for a corporation.