Bonus

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Bonus is when a new partner is admitted, he or she may pay more or less than equity interest. If the new partner pays more, the old partners share a bonus in the profit and loss ratio. Of course, the opposite could result, and the new partner could receive a bonus if he or she invests less than equity interest.

Definitions

According to College Accounting: A Practical Approach by Slater (13th edition)‎,

Bonus. When a new partner is admitted, he or she may pay more or less than equity interest. If the new partner pays more, the old partners share a bonus in the profit and loss ratio. Of course, the opposite could result, and the new partner could receive a bonus if he or she invests less than equity interest.

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Bonus is a pay plan that rewards employees for recent performance rather than historical performance.


Definitions

According to Organizational Behavior by Robbins and Judge (17th edition),

Bonus. A pay plan that rewards employees for recent performance rather than historical performance.

Related concepts

Related coursework