Once Work Has Been Assigned and the Person Assigned It

question 3

Multiple Choice

Once work has been assigned and the person assigned it has commenced doing the work, it is important for the manager who assigned the work to:

• A) leave the worker alone until the work has been completed.
• B) micromanage the worker to ensure that they stay on track and do not make any mistakes.
• C) provide the worker with timely and specific feedback on their efforts.
• D) liaise with other managers and/or staff members to find out how the worker is performing.
• E) All of these responses are correct.

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Definitions:

FIFO Inventory Method

An accounting method for valuing inventory that assumes the first items purchased are the first to be sold.

Cost Of Goods Sold

The total cost directly associated with producing goods that have been sold, including materials and labor.

Days' Sales

Often part of larger financial metrics, this term by itself is unclear without additional context such as Days' Sales Outstanding (DSO).

Ending Inventory

The final value of goods available for sale at the end of an accounting period, calculated before the start of a new period.