A Survey Conducted in January,2007 Found the Median Pay Effective

question 55

Multiple Choice

A survey conducted in January,2007 found the median pay effective January 1,2007,for a clerk was $20,000 and the forecast rate of wage increases in the market for 2007 of was 5% and another 5% for 2008.An employer choosing to follow a lead strategy of 4% above the market for the plan year,will need to _____.

• A) multiply salary by 105% and then by 109%
• B) increase the clerk salary by $2,000
• C) multiply the salary by 109%
• D) multiply the salary by 114%

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Definitions:

Common Liability

A legal responsibility shared among multiple parties, often in cases of negligence where each party is held responsible for a portion of the damages.

Inspect The Books

The act of examining the financial records of an organization to ensure accuracy and compliance with relevant rules and laws.

Managing Partner

The executive in a partnership responsible for daily operations, decision-making, and overall management.

Fraud

Deliberate deception to secure unfair or unlawful gain, or to deprive a victim of a legal right.