What are the five main elements of a competency-based pay plan?
What will be an ideal response?
Answer: Most competency-based pay plans contain five elements. The employer defines specific required skills and chooses a method for basing the person's pay on his or her skills. A training system lets employees acquire skills. There is a formal competency testing system. And, the work is designed so that employees can easily move among jobs of varying skill levels.
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Which one of the following statements about break-even analysis for evaluating products or services is TRUE?
A) The break-even quantity will tend to increase as the variable cost per unit of production decreases. B) As sales increase beyond the break-even quantity, total before-tax profits tend to decrease. C) A restaurant's opening of downsized facilities with only drive-through service is an example of lowering fixed costs and the break-even quantity. D) Increasing the unit selling price has the effect of increasing the break-even quantity.
Two bonds are identical except for their maturity. The bonds have a coupon rate that is greater than
their yield to maturity. Which of the following is true when comparing the two bonds? A) The longer maturity bond has a greater discount (is priced farther below par). B) The longer maturity bond has a smaller premium (is priced above par but closer to par). C) The longer maturity bond has a smaller discount (is priced below par but closer to par). D) The longer maturity bond has a greater premium (is priced farther above par).