OutCode Inc

question 24

Multiple Choice

OutCode Inc. is an organization that tries to avoid the potential for violence or a lawsuit each time an employee is asked to leave the company. It does this by having the former employees meet with a specialized member of the HR staff to discuss their feelings while also getting help to find a new job. Which strategy does OutCode Inc. use in this scenario?

• A) an employee assistance program
• B) outcome fairness
• C) alternative dispute resolution
• D) fair representation
• E) outplacement counseling

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Definitions:

Net Method

An accounting method of recording purchases at the net of any trade discounts and rebates.

Purchase Discounts Lost

Occurs when a company fails to take advantage of early payment discounts offered by suppliers, leading to higher purchase costs.

Gross Method

The gross method in accounting is a way of recording purchases at the full invoice price without deduction of any cash discounts.

Accounts Payable

A current liability account on the balance sheet representing amounts owed by a company to suppliers or creditors for goods and services purchased on credit.