Which of the Following Is an Essential Element of a Job

question 111

Multiple Choice

Which of the following is an essential element of a job description?

• A)the minimum educational qualifications workers must have to fill the position
• B)working conditions and responsibilities
• C)the skills required to hold the position
• D)the age of the person that should hold the job

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Definitions:

Periodic Inventory System

An inventory accounting system where physical inventory counts are conducted at specific intervals to determine the cost of goods sold.

First-In, First-Out

A rephrased definition of FIFO; it's a method of stock valuation assuming that the oldest inventory items are used or sold first.

Lower of Cost or Market

Accounting principle where inventory is stated at the lower value between its original cost and current market price.

Inventory Item

A specific product or material that a company holds in stock with the intent to sell or use in the production process.