A Completed Performance Appraisal Form

question 25

Multiple Choice

A completed performance appraisal form:

• A) must be kept in the employee's files for a maximum of one year
• B) is a legal document that proves job-related criteria were valid and used consistently
• C) is an internal document that has no importance outside of the organization itself
• D) must be submitted to the provincial labour relations board
• E) outlines the standardized time frame allowed for performance improvement

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Definitions:

Fixed Cost

Costs that do not change with the level of output or production, such as rent or salaries.

Profits

The financial gain realized when the revenue from selling goods or services exceeds the costs, taxes, and expenses involved in its provision.

Efficient Solution

An outcome in which resources are allocated in the most effective manner, maximizing utility or benefit without waste.

Demand Curves

Graphical representations that show the relationship between the price of a good and the quantity demanded by consumers at those prices.