When Conducting a Posting for a Job Vacancy and Selecting

question 4

Multiple Choice

When conducting a posting for a job vacancy and selecting an employee to fill the vacancy employers must ensure that:

• A) the job specifications are reasonable
• B) all employees on layoff are recalled before the posting
• C) managers do not use testing
• D) managers do not refer to performance appraisals
• E) a and b

Understand and explain the importance of ethics in accounting.

Recognize the principles affecting financial reporting, such as the going-concern principle.

Analyze and apply accounting concepts to prepare key financial statements and assess transactions.

Understand the impact of foreign currency fluctuations on financial transactions and statements.

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Definitions:

Merit Pay Systems

Compensation methods where employees' performance is directly tied to their salary increments, bonuses, or promotions, aiming to reward high performance.

Performance Contributions

The measurable impacts or outcomes that an individual's actions have on achieving organizational objectives.

Pay Increases

Adjustments or raises in an employee's salary or wage rate.

Merit Raise

A salary increase awarded to an employee based on their job performance, distinguishing it as a reward for merit rather than other factors like seniority.