The Red Cross Is a Not-For-Profit Organisation That Uses Volunteer

question 68

Multiple Choice

The Red Cross is a not-for-profit organisation that uses volunteer workers the same way a for-profit business uses paid employees.To encourage volunteers to continue to give their time, the Red Cross thanks volunteers with public recognition.This would be an example of

• A) scientific management.
• B) piece-rate scaling.
• C) Theory X.
• D) positive reinforcement.
• E) an ineffective reward system.

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Definitions:

Variances

Variances refer to the differences between planned, budgeted, or standard costs and the actual costs incurred, indicating deviations in financial and operational performance.

Closing

The process of finalizing accounts at the end of an accounting period by transferring balances to permanent accounts.

Cost of Goods Sold

The direct costs attributable to the production of goods sold by a company, including materials and labor.

Standard Costs

Predetermined costs to manufacture a single unit of product, serving as a benchmark for measuring performance.