Behavioral Observation Scales

question 82

Multiple Choice

Behavioral observation scales:

• A) measure how frequently employees engage in certain behaviors
• B) are a norm-referenced appraisal format
• C) require little time for completion of an appraisal using this format
• D) require less training for the rater than most other methods of appraisal
• E) are accurately described by all of the above

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Definitions:

FIFO Method

An inventory valuation method where the first items placed in inventory are the first sold, standing for First-In, First-Out.

Average-Cost Method

An inventory valuation method that determines the cost of goods sold and ending inventory value by computing the average cost of all similar items.

Ending Inventory

The value of goods available for sale at the end of an accounting period, after accounting for purchases and sales.

Merchandise Inventory

Merchandise inventory refers to the goods available for sale to customers, which are considered current assets on a company's balance sheet.