With Skill/competency-Based Pay, Employees Are Not Paid for the Job

question 71

Multiple Choice

With skill/competency-based pay, employees are not paid for the job they currently hold, but instead for all the following except

• A)knowledge.
• B)depth of skills.
• C)years of experience.
• D)types of skills.
• E)range of skills.

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Definitions:

Uncertainty

A situation where the outcome, extent, or implications of an event or condition are unknown or unpredictable.

Discount Rate

The interest rate used to discount future cash flows of a financial instrument to obtain the present value.

Purchased Goodwill

An intangible asset that arises when a company acquires another business for more than the fair value of its net identifiable assets at the acquisition date.

Market Value

The existing rate at which an asset or service is offered for buy or sell within the marketplace.