1. Which of the following statements is true about the concept of profit sharing?
It is a gain sharing program in which employees receive a bonus if the ratio of labor costs to the sales value of production is below a set standard.
It is a group incentive program that measures improvements in productivity and effectiveness and distributes a portion of profit to employees.
It is a combination of performance measures directed toward the company's profit and is used as the basis for awarding incentive pay.
It is an incentive plan where a percentage of the previous year's profits are provided to employees as a part of their salary.
It is an incentive pays in which payments are a percentage of the organization's profits and do not become part of the employees' base salary.
2. Which of the following is true of the World Trade Organization?
It is the only international organization dealing with the rules of trade between nations.
It ensures that currency exchange rates maintain stability.
It provides monetary assistance to countries that are in debt.
It guarantees the free trade of finances and goods between member nations.
It allows exporters and importers to conduct their business without restrictions imposed by government regulations.