The Standard Procedure to Be Followed by the Human Resources

question 100

True/False

The standard procedure to be followed by the human resources department of a company when initiating disciplinary action against an employee is an example of a standing plan.

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Definitions:

Fees Earned

Income earned from providing services, recorded as revenue in the income statement.

Correcting Entry

An entry made in accounting records to correct a previous error or adjust for discrepancies.

Journal Entry

A record in accounting that logs a transaction and shows the affected accounts in the form of debits and credits.

Debits

Accounting entries that increase assets or expenses and decrease liabilities, equity, or revenue, recorded on the left side of accounting ledgers.