KCM & Associates, an International Management Consulting Firm, Uses a Market

question 75

Multiple Choice

KCM & Associates, an international management consulting firm, uses a market pay survey to gather information regarding the going rates of pay among competing organizations.To that the company gets the best talent available, the compensation management department uses the information obtained from the market pay survey to compare its compensation policies with those used by the competitors. In this example, KCM & Associates uses which of the following techniques?

• A)Offshoring
• B)Delayering
• C)Forecasting
• D)Job evaluation
• E)Benchmarking

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Definitions:

Accounting Period

A specific period of time used for financial reporting, often a quarter or year, during which financial information is recorded and reported.

Debit

An entry recorded on the left side of an account ledger, representing an increase in assets or expenses or a decrease in liabilities, equity, or revenue.

Credit

An accounting entry that increases a liability or equity account or decreases an asset or expense account.

Balance Sheet Accounts

Accounts that reflect the assets, liabilities, and shareholders' equity of a company at a particular point in time.