________ Is a Process of Setting Standards and Measuring Employee

question 57

Multiple Choice

________ is a process of setting standards and measuring employee performance to arrive at performance standards.

• A) A performance management system
• B) Benchmarking
• C) A legal influence arrangement
• D) Time and motion study

---

Definitions:

Administration Expenses

Expenses related to the general operation of a business, including executive salaries, HR, and IT, not directly tied to the production or selling of goods/services.

Operating Expense

Expenses that a business incurs through its normal business operations, often excluding the cost of goods sold, financing costs, and taxes.

Income Statement

A document presenting a business's income and outgoings within a set timeframe, leading to a declaration of either profit or loss.

Ending Capital

Beginning Capital + Additional Investments + Net Income – Withdrawals = Ending Capital. Or: Beginning Capital + Additional Investments – Net Loss – Withdrawals = Ending Capital.