Despite the Advanced Capabilities of Mechanical Operations, Skilled Employees Are

question 16

Multiple Choice

Despite the advanced capabilities of mechanical operations, skilled employees are needed because:

• A) Computers cannot turn themselves on
• B) There is a need for intervention in case of a breakdown in the productive process
• C) Computers cannot perform many kinds of assembly work as well as humans can.
• D) B and C

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Definitions:

IFRS

International Financial Reporting Standards is a set of accounting standards developed by the International Accounting Standards Board (IASB) that is applied globally.

U.S. GAAP

The Generally Accepted Accounting Principles in the United States, a framework of accounting standards and procedures used in the U.S. to compile financial statements.

Prior Service Cost

The cost of retroactive benefits awarded in a pension plan amendment, which is recognized over future periods.

Pension Plans

Financial programs established by employers to provide retirement income for employees.