Tyrone,a Data Entry Clerk,is Paid a Basic Hourly Rate

question 7

Multiple Choice

Tyrone,a data entry clerk,is paid a basic hourly rate.He receives an extra percentage of his rate when his productivity is above normal.Which incentive plan is most likely used by Tyrone's employer?

• A) standard merit pay
• B) standard hour plan
• C) straight piecework
• D) variable pay

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Definitions:

Unilateral Contract

A contract where one party makes a promise in exchange for an act by another party.

Bilateral Contract

An agreement involving two parties where each side has made a promise to the other.

Quasi-Contract

An obligation imposed by law in the absence of a formal contract to prevent unjust enrichment.

Enforceable Contract

A valid agreement between parties with the legal requirements and conditions that can be upheld and compelled by law.