Which of the following refers to all monetary payments and all goods or commodities used in lieu of money to reward employees?
A) Bonus
B) Compensation
C) Wages
D) Incentive Pay
E) Point System

Question

Quizplus · Accepted Answer

Compensation refers to all forms of financial and non-financial rewards given to an employee in exchange for their services. It includes monetary payments such as salary, bonus, and incentives, as well as non-monetary benefits such as health insurance, retirement plans, and vacation time. Wages refer only to the monetary payment for the work done. Incentive pay and bonus refer to specific types of monetary compensation, while point system is a non-monetary reward system where employees earn points for their performance and can redeem them for rewards.

Which of the Following Refers to All Monetary Payments and All