In Terms of Environmental Complexity, ____________Environments Have Few Environmental Factors

question 9

Multiple Choice

In terms of environmental complexity, ____________environments have few environmental factors, whereas___________ environments have many environmental factors.

• A) non-competitive; competitive
• B) simple; complex
• C) stable; dynamic
• D) scarce; abundant
• E) market-oriented; product-oriented

Understand the concept and purpose of employee assistance plans.

Identify the various determinants of a firm's compensation strategy.

Comprehend the process involved in the job classification system for job evaluation.

Grasp the basics and types of private pension plans.

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Definitions:

Labor Efficiency Variance

A discrepancy between the actual working hours and the expected standard hours, multiplied by the predetermined salary rate.

Direct Labor Standards

Direct labor standards are predetermined measures for the amount of labor time and cost that should be associated with producing a unit of product or performing a service.

Standard Cost Variances

The differences between the actual costs and the standard costs for manufacturing or service processes, used to control and manage expenses.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including material and labor costs.