BUSINESS ADMINISTRATION
BUSINESS MATHEMATICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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profit sharing
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bonus
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Cost of Living Adjustment (COLA)
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Incentive
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Detailed explanation-1: -Variable pay, also known as performance pay, is made up of bonuses. The bonus, which varies according to the position held by the employee, is intended to compensate for performance achieved and may be individual or shared.
Detailed explanation-2: -A performance-based bonus is an extra compensation granted to an employee as a reward for reaching pre-established goals and benchmarks. Employers often reward employees with performance bonuses after evaluating outstanding projects or high-quality work performances.
Detailed explanation-3: -A bonus is a financial compensation that is above and beyond the normal payment expectations of its recipient. Bonuses may be awarded by a company as an incentive or to reward good performance. Typical incentive bonuses a company can give employees include signing, referral, and retention bonuses.