The First Step in the Performance Appraisal Process Is To

question 161

Multiple Choice

The first step in the performance appraisal process is to:

• A)meet with employees and discuss the overall objectives of the firm.
• B)perform a human resource inventory.
• C)analyze the jobs to see what tasks must be performed.
• D)establish performance standards.

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Definitions:

Incremental Manufacturing Cost

The additional cost incurred to produce an extra unit of a product.

Contribution Format Income Statement

A format for income statements that divides fixed and variable expenses, emphasizing the margin of contribution.

Traditional Format Income Statement

A type of income statement where expenses are deducted from revenues to calculate net income, typically divided into operating and non-operating sections.

Fixed Selling Expense

refers to selling costs that do not vary with the volume of sales, including salaries of sales personnel and advertising expenses.