Question
Complete each statement about business compensation structure by selecting the correct option from each drop-down list. Note: You will receive partial credit for each correct selection. square square 0000 An example of __ compensation is paying field laborers for the amount of fruit they pick. A __ employee receives a set amount of pay each month without overtime compensation for extra hours worked. Employees most affected by minimum wage laws are compensated __ An employee who is paid a percentage of a sale is paid by __ square v square
Answer
4.2
(239 Votes)
Megan
Master · Tutor for 5 years
Answer
1. Piece Rate 2. Exempt 3. Hourly 4. Commission
Explanation
This question involves a deep understanding of different compensation structures in the realm of business. We'll proceed to answer each statement:1. The first statement refers to paying employees based on the amount of work they do, i.e., based the outcome or the results they yield, which is referred to as "Piece Rate" compensation.2. The second statement talks about employees who get the same amount of pay every month regardless of the number of hours they've clocked in. This type of salaried employees are referred as "Exempt" employees.3. The third statement is about those employees that are most impacted by changes in minimum wage laws, these employees generally get "Hourly" compensations.4. The final statement mentions commission-based salary which is the case usually in sales jobs, where employees are paid a certain percentage of each sale they make. This is known as "Commission" based compensation.