Which of the Following Is an Example of an Economic

question 1

Multiple Choice

Which of the following is an example of an economic community?

• A) NATO
• B) BRIC
• C) NAFTA
• D) GATT
• E) WTO

Identify criteria used in making layoff decisions.

Comprehend the objectives and components of human resources planning.

Understand the impact of employing part-time workers on labor costs.

Learn about replacement charts and their usage in succession planning.

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Definitions:

Accrued Revenues

Revenues earned by a company for services or goods provided but not yet received or billed to the client.

Cash Basis

An accounting method where revenues and expenses are recorded when they are actually received or paid, not when they are incurred.

Adjustments

Entries made in accounting records to correct or update financial information.

Accrued Items

Expenses or revenues that have been incurred or earned but have not yet been recorded or paid.