NS) Fee Paid by Percentage
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Question
24 - |
Which of the following is the concept of wage calculated based on the result of the work done? |
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Expert Solution

Step 1
Tuning Fee - in Tuning Fee wage system ,a small change is made on actual wage.
Fee by Time- In this type of wage system wages are given on hourly basis, weekly basis or monthly basis.
NS ) Fee paid by percentage in accordance of the work completed. eg, project work (construction of bridge, flyover, metro etc) where in the payments are made at every mild stone achieve.
lump sum fee-In this payment system the amount is paid all at once, and not in installments.
Premium-In this pay system money is paid for working extra hours, like additional night shift, morning shift etc.
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