The Legal Status of Seniority and Merit Systems Is That

question 28

Multiple Choice

The legal status of seniority and merit systems is that ________.

• A) seniority is legal
• B) merit systems are legal
• C) both are legal
• D) both are illegal

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Definitions:

Operating Expenses

Costs related to the normal day-to-day operations of a business, excluding the cost of goods sold.

Cost Of Goods Sold

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

Periodic Inventory Systems

Periodic Inventory Systems are accounting methods that calculate the inventory at the end of an accounting period to determine cost of goods sold and ending inventory.