Reactant: a substance which is in a chemical reaction. Product: substance which is produced by the chemical reaction. A chemical change that you are familiar with is rust. In this chemical reaction, oxygen and iron, which are the reactants, combine to form a product called iron oxide(rust).
Term Definition. Draw against commission is a salary plan based completely on an employeeâs earned commissions. An employee is advanced a set amount of money as a paycheck at the start of a pay period.
A salary is the amount that an employee receives in exchange for working over a specific period of time without regard for the precise number of hours worked. For example, an employee with a monthly salary of $2,000 would receive $2,000 that month whether the employee worked 160 or 200 hours.