The Hay Guide Chart Profile Method of Weighing Compensable Factors

question 40

Multiple Choice

The Hay Guide Chart Profile Method of weighing compensable factors in a job is best used when establishing a:

• A) skill-based compensation system.
• B) job-based compensation system.
• C) performance-centered compensation system.
• D) variable pay compensation system.

---

Definitions:

GAAP-Based Financial Statements

Financial statements prepared according to Generally Accepted Accounting Principles, which serve as the standard framework of guidelines for financial accounting.

Permanent Fund

A lasting fund created to support specific public purposes, generating income while preserving the principal amount.

Governmental Fund

A type of fund used by governmental entities to account for revenues, expenditures, and balances that are not accounted for in proprietary or fiduciary funds.

Bonds Payable

A liability account that represents the amounts owed by an entity to bondholders that must be repaid at a future date.