Distinguish Between a Cumulative and a Noncumulative Discount

question 183

Essay

Distinguish between a cumulative and a noncumulative discount.

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Definitions:

Employee Benefits

Non-wage compensations provided to employees in addition to their normal salaries or wages, such as health insurance, pensions, and vacation.

Mandated by Law

Required or enforced by legal authority or legislation.

Employee Benefits Packages

A collection of non-wage compensations provided to employees in addition to their normal salaries or wages.

Non-monetary Compensation

Compensation that is provided in forms other than cash payments, such as benefits, perks, or other non-cash rewards.