A Major Advantage of a Piecework Pay System Is That

question 392

Multiple Choice

A major advantage of a piecework pay system is that it

• A) creates a powerful incentive to work efficiently.
• B) requires a minimum of paperwork and record keeping.
• C) encourages cooperation and teamwork among employees.
• D) is a system that is strongly supported by both unions and management.

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Definitions:

Profit and Loss Statement

A financial document that summarizes the revenues, costs, and expenses incurred during a specific period, usually a fiscal quarter or year.

Income Tax Form

A document individuals and businesses use to report income and calculate owed taxes to the government.

Interest Expenses

Costs incurred by an entity for borrowed funds, typically reflected in the interest payments on loans, bonds, or credit lines.