A Good Rule of Thumb When Doing a Wage Survey

question 59

Multiple Choice

A good rule of thumb when doing a wage survey in conjunction with either the point or factor comparison method is that a minimum of ____ percent of the jobs in an organization should be surveyed to make a fair evaluation of the organization's pay system.

• A) 5
• B) 50
• C) 20
• D) 30

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Definitions:

Check Drawn

A check issued by an account holder, instructing the bank to pay a specified sum of money from the account holder's account.

Payment of a Voucher

The process of issuing money in return for a voucher that proves an expense has been incurred.

Bank Reconciliation

The process of matching and comparing figures from accounting records against those presented on a bank statement.

Outstanding Checks

Checks that have been written and recorded in the issuing account but have not yet been cashed or cleared by the bank.