The Following Is Jim Walker's Income for 1995 and 2007

question 24

Multiple Choice

The following is Jim Walker's income for 1995 and 2007. What was Jim's real income for 2007?

• A)$37,000
• B)$67,000
• C)$34,387
• D)$38,908

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Definitions:

Total Commission

The cumulative amount of fees or charges paid for services, typically in sales or financial transactions.

Commission Payment Plans

A method of remuneration where employees or agents are paid based on the sales they generate, usually as a percentage of the sale price.

Monthly Salary

Regular payment from an employer to an employee, typically spread over a month, for performing agreed-upon professional tasks.

Commission

A fee or percentage of a transaction value paid to agents or employees for conducting a piece of business or a service.