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JSS3: BUSINESS STUDIES - 1ST TERM

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  1. Office Procedures | Week 1 & 2
    3Topics
    |
    1 Quiz
  2. Imprest Account | Week 3
    2Topics
    |
    1 Quiz
  3. The Role of Wages and Salaries Unit | Week 4
    3Topics
    |
    1 Quiz
  4. Store Records | Week 5
    4Topics
    |
    1 Quiz
  5. Office Equipment | Week 6
    3Topics
    |
    1 Quiz
  6. Advertising | Week 7
    3Topics
    |
    1 Quiz
  7. Transport | Week 8
    6Topics
    |
    1 Quiz
  8. Communication | Week 9
    4Topics
    |
    1 Quiz
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For the efforts workers put into the production of goods and services, their employers reward them through the payment of wages and salaries.

Time Rate: When this method is used for wage determination, the worker is paid according to the hours spent on the job.

Piece rate: If this system is used for wage determination, a fixed rate is paid for each unit of goods produce, job performed, or number of operations completed.

Preparation of Wages Voucher: Wage is prepared when a worker is to be paid at the end of the month, or as agreed between the worker and his employer.

Basic pay: This is the wage or entitlement of a worker, at the end of a given period, for example, a month, or at the end of a task, without taking into cognizance his allowances and deductions.

Allowances: These are the benefits accruable to a worker, at the end of a given period or task.

Gross pay: This is the total of the worker’s basic pay and allowances.

Deductions: These are statutory and voluntary payments, removed at source, from workers’ salaries before arriving at net pay.

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