Which of the Following Is True of Employee Benefits

question 99

Multiple Choice

Which of the following is true of employee benefits?

• A) Workers in the United States are entitled to greater employee benefits than workers in many other nations.
• B) Employers who are seen as skimping on employee benefits are often viewed positively within a community.
• C) Surveys show that a majority of individuals regard employee benefits as unimportant in their decision to join or remain with an organization.
• D) Employee benefits are used to create and maintain a competitive advantage for organizations.

---

Definitions:

Cost Of Goods Manufactured

The total production cost of goods that were completed during a specific accounting period, including labor, material, and overhead costs.

Finished Goods

Products that have completed the manufacturing process but have not yet been sold or distributed to the end customer.

FIFO

"First-In, First-Out," an inventory valuation method where goods first purchased or produced are the first to be sold, affecting the cost of goods sold and ending inventory.

LIFO

An inventory valuation method called "Last In, First Out" where the most recently produced or purchased items are the first to be expensed as cost of goods sold.