The Hay System of Job Evaluation Is Most Often Used

question 71

True/False

The Hay system of job evaluation is most often used for professional, managerial, and executive employees.

---

Definitions:

Contingent Liability

A potential liability that may become an actual liability in the future.

Warranty Expense

Costs associated with the obligation to repair or replace a product due to defects for a specified period.

Bad Debt Expense

An expense account to record uncollectible receivables.

Payroll Activities

The administrative tasks associated with processing employee wages, withholding taxes, and ensuring the accurate calculation of pay.