__________ helps eliminate the obsession with grades and, instead, encourages employees to move to jobs they can develop in their careers and add value to the organization.
A. Red circling
B. Broadbanding
C. Pay ranging
D. Factor comparison
Answer: B
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In determining the effectiveness of an entity's policies and procedures relating to the existence or occurrence assertion for payroll transactions, an auditor most likely would inquire about and:
A. observe the segregation of duties concerning human resource responsibilities and payroll disbursement. B. verify the preparation of the monthly payroll account bank reconciliation. C. recompute the payroll deductions for employee fringe benefits. D. inspect evidence that all prenumbered payroll checks are accounted for.
Which of the following statements is false?
a. While the use of standard costing is acceptable for job-order costing systems, actual cost records should still be maintained. b. It is normally more time-consuming for a company to use standard costs in a job-order costing system. c. Standards can be used in a job-order costing system, if the company usually produces items that are similar in nature. d. Standard costs may be used for material, labor, or both material and labor in a job-order costing environment.
Acme Global used to require budget officers to get three signatures on each budget form. When Michael took over the accounting department, he changed the form so that only one signature was needed. This is an example of _______.
A. job simplification B. job rotation C. job enlargement D. job enrichment E. skill enrichment
A company has sales of $375,000 and its gross profit is $157,500. Its cost of goods sold equals:
A. $157,500. B. $217,500. C. $375,000. D. $(217,000). E. $532,500.