Identify the American State That First Introduced a Merit Pay

question 77

Multiple Choice

Identify the American state that first introduced a merit pay plan, in which employees' salaries were tied to managers' assessments of their performance.

• A)South Carolina
• B)Texas
• C)Vermont
• D)Georgia
• E)Nebraska

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Definitions:

Inventory Valuation Method

A system or approach used to calculate the ending inventory's cost and determine the cost of goods sold, affecting the company's profitability and inventory balance.

Fiscal Period

A specific time period for which a business reports financial performance and position, typically a year or quarter.

Periodic Inventory System

An inventory accounting system where updates to inventory levels are made at specific intervals, not after each transaction.

LIFO Method

An inventory valuation method that stands for "Last In, First Out," assuming that the most recently produced items are sold first.