A Multi-National Organization Uses a Gainsharing Program in Which Employees

question 96

Multiple Choice

A multi-national organization uses a gainsharing program in which employees receive a bonus if the ratio of labor costs to the sales value of production is below a set standard.This incentive plan is referred to as the:

• A) group bonus.
• B) merit pay plan.
• C) Scanlon plan.
• D) piecework rate.
• E) team award.

Identify the rights of holders and negotiating parties of promissory notes in transactions.

Differentiate between cheques, bills of exchange, and promissory notes in terms of form, use, and legal treatment.

Understand defenses available to makers of bills of exchange and their limitations against a holder in due course.

Analyze the conditions under which an instrument may or may not qualify as a bill of exchange or promissory note under specific stipulations.

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Definitions:

Amortization Period

The length of time over which a company gradually writes off the initial cost of an intangible asset.

Patent

A legal document granted by the government giving an inventor the exclusive right to produce, use, and sell an invention for a certain period of years.

Research And Development

A set of activities undertaken to improve existing products, services, or processes, or to create new ones.

Net Income

The amount of money remaining after all operating expenses, taxes, and interest are deducted from total revenue.