Employment Standards

Minimum Wage
The minimum wage is the lowest legal rate of remuneration that employers must pay workers. It varies by region, age, and employment type, aiming to ensure a basic standard of living for workers.
Wage Floor
A wage floor, or minimum wage, is the lowest legal remuneration that employers can pay their workers, established either by law or through an agreed-upon wage bracket in collective bargaining agreements.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.