(a). Explain the following terms relating to payment of worker:
i. Salary
ii. Wages
iii. Time rate
iv. Piece rate
v. Commission
(b). State five importance of ofiice procedure
(a)i. A salary is the money paid each month by their employer, especially when they are in a profession such as teaching, law or medicine.
ii. Wages are form of monetary compensation for employees. They are paid according to the amount of time worked by the employee.
iii. Time rates are use when employees are paid for the amount of time they spend at work
iv. Piece rate gives a payment for each item produced. It is therefore the easiest way for a business to ensure that employees are paid for the amount of work done.
v. Commission is a service charge assessed by a broker or investment advisor for providing advice or handling purchases or sales of security for a client.
(b). - An office procedure reduces then general cost of operation
- It allows for effective training of new staff
- It enhances performance of old staff
- A good office procedure facilitataes better flow of work in the office and between department
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