Which of the Following Reduces Labour Flexibility

question 18

Multiple Choice

Which of the following reduces labour flexibility?

• A) Setting up more government run job centres.
• B) Forcing firms to cut back on 'zero hours' contracts.
• C) Legislating against trade unions.
• D) Encouraging local labour agreements.

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Definitions:

Conversion Costs

Conversion costs are the combined costs of direct labor and factory overhead incurred to convert raw materials into finished goods.

FIFO Method

An inventory valuation method where the first goods purchased or produced are the first ones removed from inventory and sold, standing for "first-in, first-out."

Equivalent Unit

An equivalent unit measures a portion of completed goods in terms of an equal number of fully completed units, used in cost accounting to assess production and inventory.

Current Period

Refers to the present accounting period or cycle in which business transactions are being recorded and reported.