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:

Sarbanes-Oxley Act

A U.S. law enacted in 2002 to protect investors by improving the accuracy and reliability of corporate disclosures, following major financial scandals.

Financial Reports

Documents that detail the financial health and performance of a business, including balance sheets, income statements, and cash flow statements.

Rent Expired

The portion of the rental period that has elapsed or the cost of rent that has been used up over a specific accounting period.

Accounting Period

A specific time span for which financial records are maintained and reported, such as a fiscal year or quarter.