A Worker Who Is Paid on the Basis of the Number

question 102

Multiple Choice

A worker who is paid on the basis of the number of computer components produced per day is said to be paid on:

• A)An organization-based plan
• B)A group-based plan
• C)A commission basis
• D)An equity basis
• E)A piece-rate basis

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Definitions:

Current Ratio

It's a measure used to determine a business's capacity to fulfill obligations due in less than one year, through a calculation of current assets over current liabilities.

Acid-Test Ratio

A financial metric that measures the ability of a company to pay off its short-term liabilities with its quick assets.

Year-End Information

Data and records compiled at the end of a fiscal year used for accounting and tax purposes, including final balances, inventories, and financial statements.

Perpetual Inventory System

An accounting method that continuously updates inventory records for sales and purchases, providing a highly current account of inventory on hand.