Profit sharing can be described as

Multiple Choice

a gainsharing program in which employees receive a bonus if the ratio of labor costs to the sales value of production is below a set standard.

a group incentive program that measures improvements in productivity and effectiveness and distributes a portion of profit to employees.

a combination of performance measures directed toward the company's profit and is used as the basis for awarding incentive pay.

an incentive plan where a percentage of the previous year's profits are provided to employees as a part of their salary.

incentive pav in which pavments are a percentaqe of the orqanization's profits and do not become part of the emplovees' base salarv.