After Determining an Organization's Compensation Philosophy,the Next Step in Developing

question 96

Multiple Choice

After determining an organization's compensation philosophy,the next step in developing a compensation plan is to:

• A) develop a job description.
• B) find comparison factors for salary.
• C) provide stock options or stock grants to employees.
• D) offer employer-sponsored health insurance.

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Definitions:

Premium

An amount paid in excess of the nominal or face value of something, often associated with insurance policies or bonds.

Adjusting Entry

An accounting entry made at the end of a period to assign revenues to the period in which they are earned and expenses to the period in which they occur.

Create Deferral

The process of delaying the recognition of revenue or expenses to a future period to align with the accrual basis of accounting.

Insurance Policy

An insurance policy is a legal contract between an insurer and the insured, outlining the terms, conditions under which the insurer agrees to compensate the insured for specific losses.