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.

Prepare adjusting journal entries as a result of the bank reconciliation process.

Understand the purpose and operation of a petty cash fund, including establishment, replenishment, and adjustment.

Recognize the different types of documents and their roles in internal control and cash management.

Identify the components that affect the cash balance per books and per bank.

---

Definitions:

Specialization

In economics, it refers to the process by which individuals, businesses, or countries focus on producing a narrow range of goods or services to gain greater efficiencies and improve competitive advantage.

Self-Sufficiency

The condition of being able to satisfy all of one's needs without external assistance.

NAFTA

The North American Free Trade Agreement, a treaty entered into by the United States, Canada, and Mexico; effective in 1994 to eliminate most tariffs on trade between these nations.

United States

A country in North America consisting of 50 states and a federal district, known for its significant influence in global politics, economy, and culture.