Fairness Associated with the Procedures and Processes That Organizations Use

question 8

Multiple Choice

Fairness associated with the procedures and processes that organizations use to make decisions is known as _____.

• A) procedural justice
• B) restorative justice
• C) interactional justice
• D) distributive justice

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Definitions:

Compounded Semi-annually

Refers to the process where interest is added to the principal balance of an investment or loan twice a year, resulting in the interest earning interest.

Perpetuity

A financial instrument that pays a fixed amount of money indefinitely, with no end date.

Annually Compounded

A method of calculating interest where the interest is added to the principal sum once a year, resulting in interest on interest.

Fair Market Value

The price at which an asset would trade in a competitive auction setting, reflecting the true value as agreed upon by a willing buyer and seller.