False compensation has three parts 1 wages or

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FALSECompensation has three parts: (1) wages or salaries, (2) incentives, and (3)benefits.AACSB: Analytical ThinkingAccessibility: Keyboard NavigationBlooms: RememberDifficulty: 1 EasyLearning Objective: 09-03 What are the various forms of compensation?Topic: Compensation57.Factors such as what the individual's level is in the organization or how muchexperience he or she has donotdetermine basic compensation.FALSEThe basic compensation is determined by all kinds of economic factors: theprevailing pay levels in a particular industry and location, what competitors arepaying, whether the jobs are unionized, if the jobs are hazardous, what theindividual's level is in the organization, and how much experience he or she has.AACSB: Analytical ThinkingAccessibility: Keyboard NavigationBlooms: UnderstandDifficulty: 2 MediumLearning Objective: 09-03 What are the various forms of compensation?Topic: Compensation58.Stock options are foundnotto induce employees to be more productive or toattract or retain top performers.FALSEStock options are a type of incentive, rather than a benefit, used to induceemployees to be more productive or to attract and retain top performers.AACSB: Analytical ThinkingAccessibility: Keyboard NavigationBlooms: UnderstandDifficulty: 2 MediumLearning Objective: 09-03 What are the various forms of compensation?Topic: Compensation
59.Designed to enrich the lives of all employees in the organization, who are paid allor in part by the organization, benefits are additional nonmonetary forms ofcompensation.TRUEDesigned to enrich the lives of all employees in the organization, who are paid allor in part by the organization, benefits are additional nonmonetary forms ofcompensation.AACSB: Analytical ThinkingAccessibility: Keyboard NavigationBlooms: RememberDifficulty: 1 EasyLearning Objective: 09-03 What are the various forms of compensation?Topic: Compensation60.In the United States, private industry spends an average of $31.93 per hourworked in employment compensation, of which wages and salaries accounted for69.9% and benefits 30.1%.TRUEBenefits are no small part of an organization's costs. In March 2014, privateindustry spent an average of $31.93 per hour worked in employmentcompensation, of which wages and salaries accounted for 69.9% and benefits forthe remaining 30.1%.AACSB: Analytical ThinkingAccessibility: Keyboard NavigationBlooms: UnderstandDifficulty: 2 MediumLearning Objective: 09-03 What are the various forms of compensation?Topic: Compensation61.Recreation options, country club memberships, and discounts on merchandise arenotconsidered examples of benefits.FALSERecreation options, country club memberships, and discounts on merchandise areexamples of benefits.AACSB: Analytical ThinkingAccessibility: Keyboard NavigationBlooms: UnderstandDifficulty: 2 MediumLearning Objective: 09-03 What are the various forms of compensation?

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