Which of the Following Is Included in "Compensation of Employees

question 195

Multiple Choice

Which of the following is included in "compensation of employees" part of the income approach to measuring GDP?
I. Wages and salaries.
II. Pension fund contributions.
III. Social Security contributions.

• A) I only
• B) I and II
• C) I and III
• D) I, II and III

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Definitions:

Director

A person elected by the shareholders to direct corporate affairs.

Corporate Affairs

Activities and responsibilities related to the operation and management of a corporation, including compliance, governance, and public relations.

Limited Partner

One who invests in a limited partnership but does not play an active role in managing the business. Unlike general partners, limited partners are only liable for partnership debts up to the amounts they have invested.

Management Participation

Involvement or active engagement of management in the strategic and operational tasks of an organization or a particular project.