Nancy's Employer Distributes Checks at the End of Each Quarter,representing

question 95

Multiple Choice

Nancy's employer distributes checks at the end of each quarter,representing an equitable portion of 5 percent of the company's pretax profits for the previous period.These checks represent

• A)pay for performance.
• B)pay for knowledge.
• C)profit sharing.
• D)a bonus.
• E)gainsharing.

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Definitions:

Mutual Mistake

An error shared by all parties to a contract, concerning a basic assumption on which the contract was based, that has a material effect on the agreed performance.

Standard-Size

Referring to items or products that are made to a specific, uniform set of dimensions or measurements to ensure consistency and compatibility.

Legal Assent

A mutual agreement under contract law wherein all parties involved acknowledge and adhere to the terms of a contract, making it legally binding.

Scienter

Knowledge of wrongdoing or fraudulent intent, often a necessary element in fraud cases.