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What do you prefer: wages or salary?
I prefer a salary over wages. A salary provides a fixed amount of income on a regular basis, which allows for better budgeting and financial planning. It also provides a sense of stability and security compared to wages, which can vary based on hours worked. Additionally, a salary often comes with benefits such as paid time off, health insurance, and retirement contributions.
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When will the salary/wages be paid out?
The salary/wages are typically paid out on a specific date each month, which is determined by the employer. This date is usually mentioned in the employment contract or company policy. It is important to check with the HR department or supervisor to confirm the exact payday to ensure timely receipt of payment.
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What is the difference between salary and wages?
Salary is a fixed amount of money paid to an employee on a regular basis, typically on a monthly or annual basis. It is usually a set amount regardless of the number of hours worked. Wages, on the other hand, are typically paid on an hourly basis and can vary depending on the number of hours worked. Wages are often associated with jobs that are paid based on an hourly rate, while salary is more common for jobs that are paid a fixed amount regardless of hours worked.
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Are wages liabilities?
Yes, wages are considered liabilities for a company because they represent an obligation to pay employees for their work. From an accounting perspective, wages are typically recorded as a liability on the company's balance sheet until they are paid to the employees. This reflects the company's obligation to fulfill its financial commitments to its employees. Therefore, wages are classified as a liability until they are settled.
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Why do people work for starvation wages?
People may work for starvation wages due to limited job opportunities, lack of education or skills to qualify for higher-paying jobs, or simply because they have no other choice and need to support themselves or their families. Some individuals may also be exploited by employers who take advantage of their vulnerable position and offer low wages. Additionally, systemic issues such as income inequality and a lack of labor protections can contribute to people accepting starvation wages in order to survive.
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Why should one still work for starvation wages?
One should not work for starvation wages as it is not sustainable or fair. Working for such low wages can lead to financial instability, inability to meet basic needs, and can perpetuate a cycle of poverty. It is important to advocate for fair wages and seek opportunities that provide a living wage to ensure a decent quality of life.
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What are sheer wages?
Sheer wages refer to the base salary or hourly rate that an employee earns before any deductions or bonuses are added. It is the raw amount of money that an employee receives for their work, without factoring in any additional compensation or benefits. Sheer wages are often used as a starting point for calculating total earnings and can vary depending on factors such as job role, experience, and industry standards.
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What is gross wages?
Gross wages refer to the total amount of money earned by an employee before any deductions are taken out, such as taxes, insurance, or retirement contributions. It represents the full compensation for the work performed by the employee. Gross wages are often used as the starting point for calculating net wages, which is the amount an employee receives after deductions.
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