The Fourth Step of the CHRM Application Tool Is to Devise

question 17

Multiple Choice

The fourth step of the CHRM application tool is to devise plan and success criteria.When evaluating alternatives to deal with the problem or realise an opportunity the organisation should:

• A) assess the suitability, accountability and feasibility of the alternative
• B) assess the accountability, acceptability and feasibility of the alternative
• C) assess the suitability, acceptability and feasibility of the alternative
• D) assess the accountability, suitability and acceptability of the alternative

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Definitions:

LIFO Cost

An inventory valuation method that assumes the last items placed in inventory are the first sold, implying newer inventory remains unsold.

Periodic Inventory

A method of inventory valuation where updates to the inventory levels and cost of goods sold are made at the end of an accounting period.

Inventory Balance

The total value of a company's inventory at the end of an accounting period, including raw materials, work-in-progress, and finished goods.

Inventory Turnover Distortion

A situation where the calculated rate of inventory turnover does not accurately reflect a business's actual efficiency in managing inventory.