To stay current in their profession,accountants have to take a minimum number of continuing education courses annually.Accountants in the firm of Dunkirk and Wood who take additional classes are rewarded through a ____ plan.
A)fixed-rate pay
B)profit sharing
C)gain sharing
D)profit-for-work
E)merit pay

Question

Quizplus · Accepted Answer

Merit pay is a compensation plan that rewards employees based on their individual performance and contribution to the company. Since accountants at Dunkirk and Wood who take additional classes are going above and beyond their minimum required continuing education, they would qualify for merit pay. This incentivizes them to continue learning and developing their skills, which ultimately benefits the company.

To Stay Current in Their Profession,accountants Have to Take a Minimum