ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Either A or B
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None of the above
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Detailed explanation-1: -Option B-‘Honorary’ is a position in an organisation, for which no payment is made. Thus option B is the correct answer. ‘A job without salary-Honorary’
Detailed explanation-2: -Wages depend on how much time one spends on work and how much work is completed within that period. Salary is more like a fixed amount. This is the main difference between wages and salary.
Detailed explanation-3: -A salary is a fixed amount of money or compensation paid to an employee by an employer in return for work performed. Salary is commonly paid in fixed intervals, for example, monthly payments of one-twelfth of the annual salary.
Detailed explanation-4: -A salary is the money that someone is paid each month by their employer, especially when they are in a profession such as teaching, law, or medicine.