Why Might You Consider Acquiring Your CHRP Designation

question 61

Multiple Choice

Why might you consider acquiring your CHRP designation?

• A) Ethical standards are defined, which will allow you to easily resolve workplace ethical dilemmas.
• B) It will certify you to provide advice concerning legal and ethical behaviour.
• C) It will identify you as someone possessing HR knowledge, skills and abilities, and ethical behaviour.
• D) It is recognition of achievement of all the HR competencies, meaning that you will require minimal post-secondary education.

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Definitions:

Salvage Value

Salvage value is the estimated resale value of an asset at the end of its useful life.

Useful Life

The estimated period over which an asset is expected to be used before it needs to be replaced or has significantly depreciated.

Accumulated Depreciation

The total amount of depreciation expense that has been recorded for an asset since its acquisition, reducing its book value on the balance sheet.

Journal Entry

A record of a transaction in a business's accounts, noting the accounts affected and the amounts.