Salaries are remuneration paid to employees based on:

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Question restatement: Salaries are remuneration paid to employees based on:

Option 1: "sales and calculated on a formula set by the company" – This describes compensation that is tied to sales performance or a negotiated formula. While some compensation plans combine base pay with sales commissions or formulas, pure salaries are not typically defined by sales outcomes or company-wide formulae. Therefore, this option inaccurately characterizes salaries as primarily driven by sales figures or preset formulas.

Option 2: "the number of hours worked" – This describes hourly wages or time-based pay, not salaries. Salaries are generally fixed periodic payments regardless of exact hours worked within a pay period (beyond any agreed overtime rules). Hence, this option mislabels the nature of salaries.

Option 3: "an unknown amount" – Salaries are not typically unknown or variable by default; they are determined and agreed upon in an employment contract, giving a known amount (or a defined method to calculate it). The notion of an unknown amount conflicts with standard salary arrangements. Therefore, this option is incorrect.

Option 4: "a set amount" – This aligns with the conventional understanding of a salary: a recurring, fixed sum paid regularly, irrespective of hours worked (subject to standard payroll practices). This option correctly reflects how salaries are remunerated in most employment contexts.

Additional context: The distinction between salaries and other pay forms (like wages or commissions) underlines why the fixed, set amount description is appropriate for salaries, whereas the other options describe alternative pay structures or uncertainties that do not define salary compensation.

BBK99E1 - Basic Bookkeeping Level 1 Part 2 - Online Exam

Salaries are remuneration paid to employees based on:

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