Quality Circles, Gainsharing Programs, and Other Types of Joint Labor-Management

question 44

True/False

Quality circles, gainsharing programs, and other types of joint labor-management committees focus largely on changing the way work has been organized under scientific management principles.

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Definitions:

Classified Balance Sheet

A balance sheet that organizes assets and liabilities into subcategories like current, long-term, property, plant, and equipment, to provide more detailed information.

Current Ratio

It's a financial ratio that calculates whether a corporation can cover its obligations that need to be paid within one year, by dividing the current assets by the current liabilities.

Plant Assets

Tangible assets that are used in the operations of a business and are not intended for resale, including buildings, machinery, and equipment.

Natural Business Year

The fiscal year that ends when a business's activities have reached the lowest point in its annual operating cycle, theoretically the most optimal time for financial reporting.