Question

Which statement describes the term salary?
A) Salary refers to the fixed amount paid on a daily basis.
B) Salary refers to the varying amount paid on a daily basis.
C) Salary refers to the fixed amount paid on a weekly, bi-weekly, or monthly basis.
D) None of the above

Answer 1

$\bf\huge\color{red}{ANSWER}$

The term Salary refers to the fixed amount paid on a weekly, bi-weekly, or monthly basis statement describes the term salary.

Answer 2

The term Salary refers to the fixed amount of money paid on a weekly, bi-weekly, or monthly basis by the employer to his employees.

A salary is considered as a  form of payment from an employer paid to an employee, which was mutually agreed in the employment contract.

Sometimes it is contrasted with piece wages, where job wise, hourly rate or other unit is paid separately, rather than a lump sum amount paid on a periodic basis.

From the point of view of a business, salary can also be known as the cost of acquiring and retaining human resources for running operations of the company and is then termed as personnel or salary expense.