Promotions Should Be Based on __________

question 78

Multiple Choice

Promotions should be based on __________.

• A) management qualities
• B) seniority
• C) technical skills
• D) all of these

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Definitions:

Direct Labour Hours Quantity

The total number of labor hours spent by workers who are directly involved in the production of goods or services.

Standard Cost

An estimated or pre-determined cost of performing an operation or producing a good, used in budgeting and pricing.

Actual Cost

The tangible and realized expense incurred for materials, labor, and overhead in the production of goods or services.

Standard Cost Systems

An accounting method that uses standard costs for direct materials, labor, and overhead to help managers control business costs.