Lesson 6 Flashcards
1
Q
is when you use your property as collateral for a loan from a financial institution.
A
Mortgage loan
2
Q
The instalment payment on the loan is termed
A
amortisation
3
Q
payments goes to the payment of interest and principle.
A
Monthly amortization
4
Q
refers to the remuneration given to an employee in exchange for his/her services.
A
Employee compensation
5
Q
is an employee’s compensation package that refers to the wages or salaries that she/he will get.
A
Basic pay
6
Q
refers to earnings received by workers on a piece rate, hourly rate or daily rate.
A
Wages
7
Q
Earnings of employees paid on a monthly or annual basis is generally referred to as a
A
Salary
8
Q
is a broader term than wages or salary.
A
Income
9
Q
cover remuneration other than basic pay.
A
Employee benefits
