To Help Achieve Internal Equity, Factors Such as Skills, Effort

question 52

Multiple Choice

To help achieve internal equity, factors such as skills, effort, responsibilities, and working conditions may be used to assess jobs. Which term refers to these factors?

• A) job specifications
• B) job classification factors
• C) compensable factors
• D) factor comparisons

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Definitions:

Closing Entries

Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to a permanent owner's equity account, preparing the accounts for the next period.

Adjusted Trial Balance

A record comprising all accounts with their respective balances, updated following adjustment entries, which serves as a foundation for creating financial reports.

Closing Entries

Journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts in preparation for the next accounting period.

T Accounts

T accounts are a visual representation of individual accounts used in accounting to depict debits and credits for transaction entries.