Asked by Priyanka Sharma on Apr 28, 2024
Verified
Payment of a set amount of money per pay period, regardless of the number of hours worked, is ____.
A) a salary
B) an hourly wage
C) based on percentage
D) a commission
E) a weekly wage
Salary
The amount of regular payment from an employer to an employee, typically expressed as an annual sum and paid in monthly or biweekly intervals.
Hourly Wage
The amount of money paid to an employee for each hour of work.
Commission
A fee or percentage of a sale paid to a salesperson, broker, agent, or other individual for their services in facilitating a transaction.
- Understand the fundamental payroll concepts, including the difference between salaries and hourly wages.
Verified Answer
CS
Caitlin SaundersMay 03, 2024
Final Answer :
A
Explanation :
A salary is a fixed regular payment, typically paid on a monthly or biweekly basis but often expressed as an annual sum, made by an employer to an employee, especially a professional or white-collar worker. This payment does not change based on the number of hours worked.
Learning Objectives
- Understand the fundamental payroll concepts, including the difference between salaries and hourly wages.