Employability Refers to an Emerging Employment Relationship in Which

question 37

Multiple Choice

Employability refers to an emerging employment relationship in which:

• A) employees must continuously learn skills that will keep them employed.
• B) companies replace employees with casual workers.
• C) companies must continually provide new opportunities for employees to get promoted to higher-paying jobs within the organization.
• D) people have their own businesses rather than working as employees for someone else.
• E) companies are expected to offer employees a job for life.

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Definitions:

FIFO Method

"First In, First Out" method, an inventory costing technique that assumes the first items added to inventory are the first ones sold.

Beginning Inventory

The value of all the inventory held by a business at the start of an accounting period.

Equivalent Units

A concept in cost accounting used to express the amount of work done on incomplete units in terms of fully completed units.

Direct Labor

The cost of labor directly involved in producing goods, excluding indirect costs like maintenance.