All of the Following Are Guidelines for Effective Personnel Management

question 90

Multiple Choice

All of the following are guidelines for effective personnel management EXCEPT: 

• A) Plan for personnel needs and review hiring results periodically to determine whether personnel needs are being achieved.
• B) Estimate the significance of a risk (magnitude of exposure in dollars or other type of measure, type of threat, duration, etc.)
• C) Provide continuing education and training for staff (external or in-house training courses, professional conferences, or seminars).
• D) Develop procedures to identify sources of potential hires, methods of contacting and attracting potential hires, and methods of evaluating and selecting potential hires.

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Definitions:

Standard Costing System

An accounting system that assigns fixed costs for materials, labor, and overhead to the production of goods, facilitating budgeting and performance evaluation.

Direct Labour Hours

The total hours worked by employees directly involved in the manufacturing process, contributing to the transformation of raw materials into finished goods.

Unfavourable Variance

A financial term indicating that actual results are worse than expected or budgeted results, leading to a negative impact on profitability.

Sales Volume Variance

A metric used in budgeting and accounting to measure the difference between the actual quantity sold and the expected sales volume, indicating the impact on profit.