Multiple Choice
A trade discount is a reduction from the list price, which is primarily used to:
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1. Introduction to Accounting
Types of Accounting
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A fixed, annual rate of pay that doesn't change by working more or fewer hours is called:
A
Salary
B
Commission
C
Bonus
D
Wage
Verified step by step guidance1
Understand the definitions of each term provided in the options: Salary, Commission, Bonus, and Wage.
Salary refers to a fixed annual rate of pay that does not vary based on the number of hours worked. It is typically agreed upon in an employment contract.
Commission is a payment based on performance, often calculated as a percentage of sales or revenue generated.
Bonus is an additional payment given to employees, often as a reward for exceptional performance or meeting specific goals.
Wage is a payment based on the number of hours worked, typically calculated at an hourly rate. It can vary depending on the hours worked.
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