Fair Hearing Refers to

question 42

Multiple Choice

Fair hearing refers to

• A)letting employees know what criteria are used in appraisal.
• B)documenting performance problems and using factual evidence in rating performance.
• C)ensuring that there is two-way communication during the appraisal process and the employee's perspective is heard.
• D)the process where feedback is confidentially gathered from peers,customers and subordinates.

Understand the treatment and impact of NSF cheques and bank service charges on accounting records.

Comprehend the purpose and components of a bank reconciliation process.

Identify items that require adjustment in a bank reconciliation and their effects on the balance per books and balance per bank.

Understand the roles and responsibilities in the management of cash disbursements and the importance of control activities such as segregation of duties and use of prenumbered cheques.

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Definitions:

Effective Income Tax Rate

The mean rate at which a person or company is taxed, determined by dividing the total amount of tax owed by the taxable income.

Net Income

The amount of profit left over after all operating expenses, taxes, and interest payments are deducted from total revenue. It is a key indicator of a company's profitability.

Dividends

Payments made by a corporation to its shareholders, usually as a distribution of profits.

Significant Influence

The capacity to participate in the financial and operating policy decisions of an investee, but not full control or joint control over those policies.