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Chapter 9, End of Chapter, Questions for Review, Exercise 9-1

Page 272


Compensation may be understood as the salary or wages provided by an organization to the employees in return for the time invested in performing the work. These are generally monetary benefits but may, sometimes, also include non-monetary benefits such as an awarded trip to the best employee. 

Verified Answer

Compensation is the remuneration or pay provided to the employees in favor of the time given to perform the work. A good compensation helps in the retention as well as recruitment of the employees.

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