Mrs Smith Has Worked for Grand Inc

question 77

Multiple Choice

Mrs. Smith has worked for Grand Inc., for 20 years without taking a vacation. An internal control feature that would address this situation would be

• A) human resource controls.
• B) establishment of responsibility.
• C) physical controls.
• D) documentation procedures.

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Definitions:

Competency-Based Pay

Salary determination method where compensation is based on an employee's skill, knowledge, and performance level rather than job title or position.

Identifying Competencies

The process of defining the abilities, skills, knowledge, and behaviors necessary for effective performance in a specific job role.

Merit Pay Grid

A compensation structure that determines pay increases based on an employee's performance and position within a pay grade.

Pay for Knowledge Systems

Compensation strategies that reward employees for expanding their skills or obtaining further education relevant to their job.