Piece-Rate Payment Systems Generally Result in Higher Dollar Amounts for Workers

question 23

True/False

Piece-rate payment systems generally result in higher dollar amounts for workers than pay-for-performance plans do.

---

Definitions:

Closing Entries

Journal entries made at the end of an accounting period to transfer balances from temporary accounts to permanent accounts.

Accounting Period

The span of time at the end of which a company calculates its financial performance, typically a quarter or year.

Journalized

The act of recording a transaction in an accounting journal, documenting the financial activities of a business.

Retained Earnings

Represents the portion of net income that is retained by the company rather than being distributed to its owners or shareholders.