The Salary Forgone by a Person Who Quits a Job

question 19

Multiple Choice

The salary forgone by a person who quits a job to start a business is an example of a n) _____.

• A)sunk cost
• B)opportunity cost
• C)depreciable cost
• D)outlay cost

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Definitions:

Delphi Technique

A structured communication technique, often used in forecasting, which relies on a panel of experts answering questionnaires in two or more rounds to converge towards a consensus answer.

Simulation

A method used to create a simplified model of reality to explore potential outcomes and dynamics.

Human Resources Strategy

An organization's plan to align its HR policies and practices with its overall business objectives, including talent management, workforce planning, and employee engagement.

Compensation Strategy

A plan that outlines how an organization will use its compensation system to attract, motivate, and retain employees.