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Compensation Represents Both the Intrinsic and Extrinsic Rewards Employees Receive

question 43

Essay

Compensation represents both the intrinsic and extrinsic rewards employees receive for performing their jobs.Together,both intrinsic and extrinsic compensation describe a company's total compensation system.Briefly describe both types of rewards and indicate the professionals who are responsible for managing them.


Definitions:

Schedule

A plan for carrying out a process, detailing the times at which certain events are to occur.

Work in Process

Inventory consisting of items that are in the production process but are not yet completed.

Ending Balance

The final amount in an account at the end of a period, calculated by adjusting the starting balance for charges, credits, and other financial activity.

Goods Sold

The total quantity of products that have been sold to customers.

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