Which statement best describes the difference between pay for knowledge systems $($PKS$)$ and job$-$based pay systems?

Pay for knowledge systems involve basing pay on the capabilities of individuals, and job$-$based pay is based on the characteristics of the job.

Pay for knowledge systems are applied to managerial employees, and job$-$based pay is applied to operational$-$level employees.

Pay for knowledge systems are more widely used by Canadian firms than jobbased pay systems,

Pay for knowledge systems involve low training costs and are easier to administer than job$-$based pay systems,