Andrew Leads a Small Team of Employees in a Retail

question 46

Multiple Choice

Andrew leads a small team of employees in a retail store.Following a busy weekend,he sends an email to the team recognizing their hard work.This is an example of

• A) incentive pay.
• B) gainsharing.
• C) employee recognition.
• D) fixed pay.
• E) profit-sharing.

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Definitions:

Promissory Note

A promissory note is a financial instrument in which one party promises in writing to pay a determinate sum of money to another, either at a fixed or determinable future time or on demand of the payee.

Time Draft

A type of credit instrument in international trade where payment is deferred for a specified period after the buyer accepts the draft.

Banker's Acceptance

A short-term financial instrument issued by a company but guaranteed by a bank, commonly used in international trade.

Cash Discount

A reduction in the invoice price offered by a seller to encourage early payment by the buyer.