Which Is the Most Commonly Used and Oldest Type of Incentive

question 42

Multiple Choice

Which is the most commonly used and oldest type of incentive plan system of pay and is based on the number of items processed by each individual worker in a unit of time?

• A) Standard hour plan
• B) Item plan
• C) Piecework plan
• D) Process plan
• E) Gainsharing plan

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Definitions:

Investment

Committing financial assets with the objective of receiving income or profit in return.

GIC

A Guaranteed Investment Certificate (GIC) is a Canadian investment that offers a guaranteed rate of return over a fixed period.

Monthly Interest

Monthly interest is the amount of interest earned or paid on an investment or loan calculated and paid on a monthly basis.

Regular-interest

The standard or typical interest rate applied to savings or investment accounts, calculated over a set period.