What Are Profit Sharing Programs

question 28

Multiple Choice

What are profit sharing programs?

• A)An individual incentive plan that provides a bonus based on that employee's profitability
• B)A program that provides a portion of company proceeds over a specific amount of time to the employees of the firm through a bonus payment
• C)An example of giving praise
• D)Incentives typically based on improvements in workplace safety of material savings
• E)Pretty much the same as a gain sharing program

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Definitions:

Perfect Tender Rule

A legal principle that requires goods delivered under a sales contract to exactly meet the specifications agreed upon.

Buyer/Lessee

The individual or entity that purchases or leases goods or property.

Breach

The action of violating or not adhering to a rule, contract, or ethical guideline.

Inspect

The act of examining or reviewing something carefully to determine its condition or to ascertain compliance with specific requirements or standards.