The Appraisal Process Begins with Establishment of Performance Standards in Accordance

question 60

True/False

The appraisal process begins with establishment of performance standards in accordance with the organization's strategic goals.

---

Definitions:

Financial Accounting

The field of accounting that focuses on preparing reports which provide information to external stakeholders about the financial position and performance of a company.

Plant Manager

An individual responsible for overseeing the daily operations of a manufacturing facility, managing staff, and ensuring production targets are met.

Salary

A fixed regular payment made by an employer to an employee, typically expressed as an annual sum.

Work in Process

Inventory that includes goods in the middle of the manufacturing process but not yet completed, a component of a manufacturing company's inventory valuation.