Approved & Edited by ProProfs Editorial Team
The editorial team at ProProfs Quizzes consists of a select group of subject experts, trivia writers, and quiz masters who have authored over 10,000 quizzes taken by more than 100 million users. This team includes our in-house seasoned quiz moderators and subject matter experts. Our editorial experts, spread across the world, are rigorously trained using our comprehensive guidelines to ensure that you receive the highest quality quizzes.
| By Isobelleb
I
Isobelleb
Community Contributor
Quizzes Created: 1 | Total Attempts: 1,193
Questions: 5 | Attempts: 1,193

Settings

• 1.

### What is a wage?

• A.

The lowest possible amount of money an employer can pay me

• B.

Money paid in return for work at an hourly rate

• C.

The employer pays me for the hours they think I have worked

B. Money paid in return for work at an hourly rate
Explanation
The correct answer is "Money paid in return for work at an hourly rate." A wage refers to the amount of money that an employer pays an employee in exchange for their work, typically calculated based on an hourly rate. It is not necessarily the lowest possible amount an employer can pay, as this can vary depending on factors such as minimum wage laws and employment agreements. Additionally, the employer pays the employee based on the actual hours worked, rather than their estimation.

Rate this question:

• 2.

### What is a salary?

• A.

Lots of money paid to managers and the high ups in the company

• B.

Money paid in return for working regular hours

• C.

The same amount of money paid regularly in return for work provided on a regular basis - a yearly amount paid usually fortnightly or monthly

C. The same amount of money paid regularly in return for work provided on a regular basis - a yearly amount paid usually fortnightly or monthly
Explanation
A salary refers to the same amount of money that is paid regularly to an employee in exchange for their work provided on a regular basis. This payment is usually made on a fortnightly or monthly basis and is typically calculated on an annual basis. The answer accurately describes the concept of a salary and distinguishes it from other forms of compensation such as bonuses or incentives.

Rate this question:

• 3.

• 4.

• 5.

### What is the Superannuation?

• A.

Money I should put aside for my old age - it is my responsibility

• B.

An involuntary payment made on my behalf by my employer to a registered superannuation fund

• C.

The employer can decide whether to pay my superannuation each pay - it is up to them

B. An involuntary payment made on my behalf by my employer to a registered superannuation fund
Explanation
The correct answer is "An involuntary payment made on my behalf by my employer to a registered superannuation fund." This means that the employer is required to contribute a certain amount of money to a registered superannuation fund on behalf of the employee. It is not the employee's responsibility to contribute to the fund, but rather the employer's obligation.

Rate this question:

Quiz Review Timeline +

Our quizzes are rigorously reviewed, monitored and continuously updated by our expert board to maintain accuracy, relevance, and timeliness.

• Current Version
• Mar 21, 2023
Quiz Edited by
ProProfs Editorial Team
• Jun 02, 2010
Quiz Created by
Isobelleb

Related Topics