Meaghan Scott Is the Founder and Owner of Homewood Farm

question 60

Multiple Choice

Meaghan Scott is the founder and owner of Homewood Farm Jams. Her company has six employees. For pay purposes, each employee is ranked according to his or her contribution to the firm's bottom line. What job evaluation method does Meaghan use?

• A) the benchmarking method
• B) the performance appraisal method
• C) the point rating method
• D) the job ranking method
• E) the factor analysis method

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Definitions:

Closed

Refers to an account, operation, or period that has been finalized and no longer available for transactions or adjustments.

Posting

The process of transferring the debits and credits from the journal entries to the accounts.

Debit

An entry recorded on the left side of an account ledger, signifying an increase in assets or expenses or a decrease in liabilities, equity, or income.

Unearned Revenue

The liability created by receiving revenue in advance.