Differentiate between the strategic uses and administrative uses of performance appraisals.
What will be an ideal response?
A strategic use of performance appraisal looks within the organization to provide consistency between individual and organization performance. Companies can use performance appraisals to enhance their strategies and to align individual performance objectives with organizational priorities.Administrative uses are often based on a backward-looking perspective. Employees' past performance is used to determine pay adjustments; make job placement decisions on promotions, transfers, layoffs, and demotions; and choose employee disciplinary actions up to and including termination of employment.
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Which of the following is TRUE of good internal controls over payroll?
A) Accounting for payroll should be separate from hiring and firing of employees. B) Disbursement of paychecks should not be separate from the function of maintaining payroll records. C) Hiring and firing employees should not be separated from accounting and from disbursing paychecks. D) Cash receipts from customers should be separated from the accounting for accounts receivable.
Which of the following is not true about job-order costing?
A) It is used in firms that produce homogeneous products. B) The cost of each job is accumulated on the job-order cost sheet. C) The key document for accumulating manufacturing costs is the job-order cost sheet. D) All of these are true. E) None of these is true.
The balance sheet shows ______.
a. what the business owns and what the business owes b. only net worth c. current expenses d. shareholder deferred revenue
Component parts usually require much processing to get them ready for assembly.
Answer the following statement true (T) or false (F)