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Scenario 10-1 For Four Months You Have Been Employed as the Part-Time

question 21

Multiple Choice

Scenario 10-1
For four months you have been employed as the part-time HRM for TS Inc., a small Canadian aviation company. In the past, recruitment and selection rested on the shoulders of the president and, like most small companies, TS Inc. used employee referrals and an informal interview processes in selecting employees. Since you have been hired, you have guided management through several stages of the recruitment and selection process to hire an aircraft maintenance engineer. TS Inc. has used proper selection methods such as screening, testing, and structured interviews but is not sure about how to integrate the data from these various sources. In the past, the president relied on his gut feeling about applicants and made poor hiring decisions.
-Refer to Scenario 10-1. TS Inc. is aware that the selection process can be subjective and susceptible to errors. Management is particularly concerned about the aircraft maintenance engineers who have the qualifications but may mistakenly be eliminated. What is this error called?

Recognize the categorization of expenses within the income statement.

Calculate and interpret the significance of the acid-test ratio for assessing liquidity.

Understand the calculation of cost of goods sold and its relevance to merchandise sales.

Explain the implications of the operating cycle length on business operations.

Definitions:

Conditioned Taste-Aversion

Learning to avoid a food or drink because it has been associated with an illness or negative experience, even after only one exposure.

Stimulus Substitution

A theory in classical conditioning suggesting that the conditioned stimulus acts as a substitute for the unconditioned stimulus, eliciting the same response.

Classical Conditioning

An educational mechanism where the consistent pairing of two stimuli occurs; the response which initially is drawn by the second stimulus, in time, is drawn by the first stimulus alone.

Conditioned Stimulus

A previously neutral stimulus that, after being repeatedly associated with an unconditioned stimulus, evokes a conditioned response.