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The Job Evaluation Process Determines the Amount of Money That

question 12

Multiple Choice

The job evaluation process determines the amount of money that a job is worth; this amount is called _______compensation.


Definitions:

Allocating Risk

The process of identifying and distributing the potential financial, operational, or legal hazards among parties in a transaction or agreement.

Contract Law

A branch of law that deals with agreements between parties, their rights, and obligations.

Consideration

In contract law, consideration refers to something of value exchanged between parties that is necessary for a valid contract.

Binding Contract

A legal agreement between two or more parties that is enforceable by law.

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