Income earned on an hourly basis is called a:
Question 1 options:
Salary
Wage
Stipend
Benefit
Wage
The correct answer is:
Wage.
To find the answer to this question, we can break down the options given and explain each one:
1. Salary: A salary is a fixed amount of money that is usually paid to employees on a regular basis, such as monthly or annually. It does not relate to an hourly wage.
2. Wage: A wage refers to the payment that is determined based on the number of hours worked. It is commonly associated with hourly earnings. This means that income earned on an hourly basis is called a wage.
3. Stipend: A stipend is a fixed sum of money, usually paid to support an individual's education or training. It is typically not associated with a specific hourly rate.
4. Benefit: A benefit is an additional form of compensation given to employees, such as health insurance or retirement plans. It is not directly related to income earned on an hourly basis.
Based on these explanations, the correct answer to the question is B) Wage.