In Order to Ensure Our Performance Appraisal System Evaluates Job-Relevant

question 78

Multiple Choice

In order to ensure our performance appraisal system evaluates job-relevant criteria, we typically rely on:

• A)goal setting.
• B)training.
• C)developmental planning.
• D)a job analysis.

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Definitions:

Sunk Cost

Costs that have already been incurred and cannot be recovered or refunded, and should not influence future business decisions.

Average Fixed Cost

The cost incurred for fixed inputs (rent, salaries) divided by the quantity of output produced, which decreases as production increases.

Variable Cost

Costs that vary directly with the level of production or output, such as materials and labor, in contrast to fixed costs.

Total Cost

The complete sum of all expenses incurred by a business or individual in producing a good or service.