Compensation

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Compensation

Arrangement under which the delivery of goods to a party is paid for by buying back a certain amount of the product from the recipient of the goods.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Compensation

Payment for services rendered. One is due compensation when one has performed a service for an employer or client. Examples of compensation include wages, salaries, tips, fees, and commissions. Compensation is usually the primary component of an individual's tax liability. It is also called remuneration.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

compensation

(1) Payment for goods or services.(2) Damages necessary to restore an injured party to his or her position before the wrongdoing.(3) In eminent domain, payment to property owners for the value of the property taken and any damage caused to the value of the remaining property.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.

Compensation

Wages, commissions, tips, professional fees, and net self-employment income received for services rendered; that is, earned income.
Copyright © 2008 H&R Block. All Rights Reserved. Reproduced with permission from H&R Block Glossary