Understanding Labour Remuneration Methods

What does the Piece Rate Method of remuneration primarily depend on?

• The number of hours worked

• The quality of work done

• The quantity of work done

• The level of skill of the worker

Which of the following is a disadvantage of the Time Rate Method?

• It rewards efficient workers.

• It does not encourage workers to be more productive.

• It is easy to calculate.

• It is beneficial for beginners.

In the context of the Bonus Method, what is a 'bonus'?

• A fixed salary given to employees

• An additional payment to employees for achieving targets

• A deduction from the salary for poor performance

• A loan given to employees by the employer

Which method of remuneration is most suitable for jobs requiring high precision and quality?

• Piece Rate Method

• Time Rate Method

• Bonus Method

• Commission Method

How does the Piece Rate Method affect the income of slower workers compared to faster workers?

• Slower workers earn more than faster workers.

• Slower workers earn the same as faster workers.

• Slower workers earn less than faster workers.

• The method has no effect on the income of slower versus faster workers.

What is a primary advantage of the Bonus Method of remuneration?

• It guarantees a fixed income.

• It reduces the need for supervision.

• It encourages employees to work harder.

• It simplifies payroll calculations.

Under the Time Rate Method, how is an employee's pay calculated?

• Based on the number of units produced

• Based on the number of hours worked

• Based on the level of skill

• Based on the sales generated

Which remuneration method is likely to lead to a higher quality of work?

• Piece Rate Method

• Time Rate Method

• Bonus Method

• All of the above

What is a potential drawback of the Piece Rate Method?

• It can lead to a decrease in the quality of work.

• It guarantees a minimum wage.

• It is difficult to implement.

• It discourages teamwork.

How does the Bonus Method benefit employers?

• It reduces the need for quality control.

• It ensures a fixed payroll budget.

• It motivates employees to achieve higher targets.

• It simplifies the payroll process.