Asked by Teresa Navarro P on Jun 19, 2024
Verified
Johnny is compensated based on a rate of $25.00 per hour worked.Which term best describes the manner in which Johnny is compensated?
A) commission
B) wage
C) piece rate
D) salary
Hour Worked
A measurement of labor contributing to the production of goods and services, calculated as the amount of time an employee spends on work activities.
Wage
The fixed regular payment, typically paid on a daily or weekly basis, earned by an employee.
Salary
Regular compensation paid to an employee, usually expressed as an annual sum and paid in monthly or biweekly installments.
- Gain insight into assorted compensation approaches and how they are applied in business environments.
Verified Answer
KO
KAYLEY OSBORNEJun 20, 2024
Final Answer :
B
Explanation :
Johnny is compensated based on a rate per hour worked, which means he is paid a wage. Commission is based on a percentage of sales or profits, piece rate pays workers for each unit of work completed, and salary is a fixed annual amount paid regardless of the number of hours worked.
Learning Objectives
- Gain insight into assorted compensation approaches and how they are applied in business environments.