____________________, the Application of the Concept of Fairness, Implies Impartiality

question 19

Short Answer

____________________, the application of the concept of fairness, implies impartiality in the administration of rewards.

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Definitions:

Present Value

The current worth of a future sum of money or stream of cash flows, given a specified rate of return.

Payments

The transfer of money or its equivalent from one party to another as a fulfillment of an obligation or for the acquisition of goods or services.

Compounded Semiannually

Refers to the process of applying interest to a principal sum twice a year, resulting in an increase in the amount of interest earned or paid.

Semiannual

Occurring twice a year; pertaining to a period of six months.