An Auto Manufacturer Would Classify Vehicles in Various Stages of Production

question 94

Multiple Choice

An auto manufacturer would classify vehicles in various stages of production as

• A) finished goods.
• B) merchandise inventory.
• C) raw materials.
• D) work in process.

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Definitions:

Seniority System

A seniority system is an organizational structure where employees gain certain benefits or positions based on their length of service.

Merit System

A system of employment and promotion based on the skills, performance, and abilities of employees rather than on nepotism or patronage.

Equal Pay Act

A federal law that prohibits wage discrimination based on sex, ensuring equal pay for equal work performed by men and women.

Family and Medical Leave Act

A United States law that provides eligible employees with unpaid, job-protected leave for certain family and medical reasons.