Discuss Performance Appraisal Instruments, Give Examples of Four Types of Rating

question 33

Essay

Discuss performance appraisal instruments, give examples of four types of rating scales, and describe three types of rating errors.

---

Definitions:

Current Assets

Short-term assets that are expected to be converted into cash, sold, or consumed within one year or the business's operating cycle, whichever is longer.

Market Value

The existing rate at which an asset or service might be sold or acquired in the trading space.

Replacement Cost

The current cost of replacing an asset with a new asset of similar kind and quality, often used in insurance and accounting.

Cost Of Completion

The estimated expenses that are yet to be incurred to complete an ongoing project or to bring an asset to its intended use.