What Is the Term for Indirect Compensation Such as Pensions

question 43

Multiple Choice

What is the term for indirect compensation such as pensions, health insurance, and vacations?

• A) bonuses
• B) indirect pay
• C) entitlements
• D) fringe benefits

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Definitions:

Marginal Product

The change in output resulting from employing one more unit of a particular input, holding the levels of all other inputs constant in the production process.

Waste Water

Water that has been used and contaminated, making it unsuitable for further use without treatment.

Machinery

Equipment consisting of one or more machines that perform specific tasks, usually within an industrial or manufacturing process.

Depreciation

The process of allocating the cost of tangible assets over their useful lives, reflecting the decrease in value over time.