Which of the Following Statements Regarding Compensation Is False

question 7

Multiple Choice

Which of the following statements regarding compensation is false?

• A) Wages are usually paid by the hour.
• B) Salary is usually a form of fixed compensation.
• C) Bonuses are a form of compensation obtained if certain criteria are met.
• D) Bonuses paid within 2½ months of year-end are included in employee's compensation in the year they were earned.

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Definitions:

Bills Of Exchange Act

The Bills of Exchange Act is legislation that regulates the creation, transfer, obligations, and rights of parties involved in bills of exchange, a form of negotiable instrument used in trade and finance.

Promissory Notes Act

Legislation that governs the issuance, form, and effects of promissory notes, which are written promises to pay a specified sum of money to a specified person or the bearer at a specified time.

Countermand Payment

The act of canceling a payment or stopping the processing of a payment order by the payer.

Certified Cheque

A cheque guaranteed by a bank, indicating that the signer has enough funds in their account to cover the amount of the cheque.