In a Job-Based Pay System

question 67

Multiple Choice

In a job-based pay system,

• A) People are paid according to the job they hold
• B) training is essential to attain job flexibility and pay increases for all employees
• C) pay remains constant unless skill proficiency increases
• D) salary increases are tied to skill acquisition as measured by competency tests
• E) unions control compensation levels

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Definitions:

Going-concern Assumption

An accounting principle that assumes a business will continue to operate indefinitely, rather than being liquidated.

Financial Statements

Standardized documents that provide an overview of a company's financial performance and position, including the balance sheet, income statement, and cash flow statement.

Operating

Pertains to the regular, ongoing activities of a business that are involved in the production or sale of goods and services.