Files Are Frequently Classified by the Application for Which They

question 39

True/False

Files are frequently classified by the application for which they are primarily used, such as a payroll file or an inventory file.

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Definitions:

Goal-Sharing Plans

A type of incentive plan where employees are rewarded if collective goals are achieved, promoting teamwork and collaboration.

Employee Participation

A workplace practice where employees are involved in decision-making processes, potentially improving satisfaction and productivity.

Phantom Stock Plan

A type of employee benefit plan that gives selected employees many of the benefits of stock ownership without giving them any company stock, often tied to the performance or value of the company's stock.

Company Stock

Shares of ownership in a corporation, representing a claim on part of the corporation's assets and earnings.