According to the Data Protection Act, Personnel Files and Records

question 67

Multiple Choice

According to the Data Protection Act, personnel files and records should ideally be maintained by employers for_____.

• A) 1 year
• B) 2 years
• C) 3 years
• D) 5 years

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Definitions:

Comparative Balance Sheet

A balance sheet listing financial condition for two or more years in a side-by-side manner. This format allows the reader to make quick comparisons between the two balance sheet dates.

Net Increase

The amount by which something grows or rises, after accounting for any decreases.

Cost of Goods Sold

The total cost directly associated with producing or procuring the goods sold by a business during a specific period.

Trend Percentage

An analysis tool used to evaluate the systematic increase or decrease in financial statement items over different periods.