A Human Resource Management System Is a Part of the Organizational

question 17

True/False

A human resource management system is a part of the organizational architecture that managers develop to use resources efficiently and effectively.

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Definitions:

Standard Quantity

The expected amount or volume of a specific input or material required in the production of goods or services.

Materials Price Variance

The difference between the actual cost of materials and the expected cost based on standard pricing, used to evaluate cost management.

Purchasing Department

A division within a business that is responsible for acquiring goods and services needed for operations.

Standard Cost

A predetermined cost of manufacturing a product or providing a service, used for budgeting and performance evaluation.