A Company Is to Distribute $29,000 in Bonuses to Its

question 28

Multiple Choice

A company is to distribute $29,000 in bonuses to its top five salespeople. The fifth salesperson on the list will receive $4,600, and the difference in bonus money between successively ranked salespeople is to be constant. Find the bonus for each salesperson.

• A)$6,400, $5,800, $5,200, $4,600, $4,000
• B)$6,800, $6,700, $6,300, $5,900, $4,600
• C)$7,000, $6,500, $6,100, $5,700, $4,600
• D)$7,000, $6,400, $5,800, $5,200, $4,600
• E)$6,800, $6,600, $6,200, $5,800, $4,600

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Definitions:

Strategic Objectives

The specific goals set by a business or an organization to guide its operations and to achieve long-term achievements.

Dodd-Frank Act

United States federal law that places regulation of the financial industry in the government's hands to prevent financial crises.

Clawback Provisions

Agreements that allow companies to retrieve all or part of an employee's compensation under certain conditions, such as misconduct or performance failures.

CEO Pay

The compensation package, including salary, bonuses, and benefits, given to the Chief Executive Officer of a company.