The Last Step in the Performance Appraisal Process Involves

question 56

Multiple Choice

The last step in the performance appraisal process involves:

• A) providing remedies or reinforcing performance.
• B) establishing and communicating performance standards.
• C) establishing and communicating performance expectations.
• D) observing and measuring individual performance against standards.

---

Definitions:

Replacement Cost

The cost to replace an asset with another of similar function and quality at current prices.

Net Realizable Value

The estimated selling price of goods, minus the estimated cost of completion and any costs necessary to make the sale.

Retained Earnings

Profits that a company keeps or retains rather than distributing to shareholders as dividends, often used for reinvestment.

Overstated

The description of financial statements or figures that have been reported at amounts higher than is factual or realistic.