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Business Studies

Appraisal, Promotion and Compensation

What is the r...

Question

What is the reward for employment in the form of pay, salary, or wage, including allowances, benefits (such as company car, medical plan, and pension plan), bonuses, cash incentives, and monetary value of the non-cash incentives?

[1 mark]

A

Payslip

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B

Earned leave

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C

National pension system

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D

Remuneration

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Solution

The correct option is D Remuneration
The term ‘remuneration’ means compensation or pay, but it has a broader meaning than pay because it can include not just basic salary or bonuses but commissions and other payments or benefits paid under the terms of an employment contract as well.

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