-Refer to Figure 1

question 41

Multiple Choice

-Refer to Figure 1.1. Which of the following are external factors that affect the HR system?

• A) legal and socioeconomic environments
• B) vision, values, and mission
• C) strategic objectives and organizational requirements
• D) personnel competence, commitment, and effectiveness

---

Definitions:

Merchandise Inventory

The total value of a company's goods held for sale to customers in the ordinary course of business.

Cost of Goods Sold

Direct costs attributable to the production of the goods sold by a company, including materials and labor.

Perpetual System

Perpetual System is an inventory tracking system where inventory and cost of goods sold are updated continuously with each sale or purchase.

Accounts Payable

Accounts payable represent a company's obligation to pay off a short-term debt to its creditors or suppliers, often arising from the purchase of goods or services on credit.