Key Segregations of Duties in the Human Resource Management Process

question 24

Multiple Choice

Key segregations of duties in the human resource management process include all of the following except:

• A) The supervision function should be separate from the payroll-processing function.
• B) The disbursement function should be separate from the supervision function.
• C) The human resource function should be separate from setting salaries.
• D) The payroll-processing function should be separate from the general ledger function.

Understand the concept and implications of the principal-agent problem in both private and public sectors.

Evaluate the efficiency of resource allocation in majority voting and the paradox of voting.

Describe the median-voter model and its implications for political outcomes and public service provision.

Grasp the concept and implications of logrolling in political decision-making.

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Definitions:

Income Elasticity of Demand

A measure of how the quantity demanded of a good or service changes in response to a change in consumers' income.

Price Elasticity of Supply

An economic measure of how much the quantity supplied of a good changes in response to a change in price.

Equilibrium Values

The set of prices or quantities in a market or economic model where supply equals demand, and no incentive exists for change.

Cyclical Industries

Industries in which sales tend to magnify cyclical changes in gross domestic product and national income.