The Type of Information That Is Found on an Employer

question 58

Multiple Choice

The type of information that is found on an employer task analysis record form includes all of the following except

• A)performance conditions.
• B)quantity and quality standards.
• C)a task list.
• D)skills not required to learn.
• E)how often performed.

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Definitions:

FIFO Basis

Stands for "First In, First Out," an inventory valuation method where the costs of the earliest goods purchased or produced are the first to be recognized in determining cost of goods sold.

Perpetual Inventory System

A method where inventory quantities and cost of goods sold amounts are updated continuously as sales occur and purchases are made.

Lower-of-cost-or-market

An accounting principle that values inventory at the lower of its historical cost or current market price.

Average Cost

A method of inventory valuation that calculates the cost of goods sold and ending inventory based on the weighted average of all units purchased.