The Audit Approach to Evaluating the Effectiveness of HR Practices

question 71

Multiple Choice

The audit approach to evaluating the effectiveness of HR practices focuses on

• A)using analytical data to increase organizational effectiveness.
• B)estimating the costs and benefits resulting from an HR practice.
• C)reviewing the various outcomes of the HR functional area.
• D)determining the dollar value of a program.
• E)using utility analysis to estimate the financial impact of employee behavior.

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Definitions:

Restocking Inventory

The process of replenishing goods or materials within a business to ensure sufficient supply for operation or sale.

Kanban System

A workflow management method for defining, managing, and improving services that deliver knowledge work, aiming to visualize work, limit work in progress, and maximize efficiency.

Aging Schedule

A table or report that displays the balances owed to a company by its customers, broken down into categories based on the length of time the invoices have been outstanding.

Average Collection Period

The average collection period is the amount of time it takes for a business to receive payments owed by its clients in relation to its accounts receivable.