Observation

Comments
Majority of the candidates attempted this question and performed above average
Some of the responses expected from the candidates were:
   (a)     Wage is not fixed but salary is a fixed amount

1. Wage is pay to a part time worker while salary is paid to a permanent staff of an organization
2. There is no tax deduction on a wage but tax is deducted from salary
3. Wage is based on a worker’s performance while salary is fixed and not calculated based on performance
4. Wage is paid per hour daily or weekly while salary is paid at the of the month
5. A wage earner’s appointment/ work is not guaranteed while a salary earner’s appointment / work enjoys some levels of security  

  (b)      Methods of paying wages:

1. Time rate: This is a method of paying wages whereby the employee is paid a fixed sum hourly, daily or weekly. It a reward system that is based on equal time.
2. Piece rate: it is a method of paying wages in which employees are paid per unit of product or output or per job done
3. Profit sharing: Under this method workers receive a given percentage of profit as income according to their performance in a given period of time. The principle state that any extra output, gain or effort gained as a result of the employee’s effort will be shared fairly between the employer and the employee.
4. Commission: Under this kind of payment, workers are rewarded a certain percentage of sales made. It encourages greater performance in the selling activities as it is a form of incentives payment.