Frank Lehman Is a Human Resource Manager at a Major

question 70

Multiple Choice

Frank Lehman is a human resource manager at a major corporation.If Frank's company is like most firms today,which of the following statements about Frank's job is likely to be the most accurate?

• A)Most of Frank's time will be devoted to clerical duties such as processing payroll checks and keeping employee files updated.
• B)Frank's job will be simpler in the future than it was in the past,because the percentage of new workers entering the labor force who are poorly educated and unprepared for work is slowly but steadily declining.
• C)Government laws and regulations concerning hiring,worker safety,pay,and unionization will make Frank's work complex and challenging.
• D)Frank and his fellow human resource managers will be given complete responsibility for performing all human resource functions within the organization.

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Definitions:

Cash Budget

An estimation of cash inflows and outflows over a specific period, used to manage and plan for any potential surplus or deficit in cash.

Shortage Costs

Costs incurred when the demand for a product exceeds the supply available, potentially including lost sales, expedited shipping fees, and lower customer satisfaction.

Operating Cycle

The duration of time it takes for a company to purchase inventory, sell it to customers, and collect the cash from the sale.

Cash Cycle

The period between the outlay of cash for the purchase of inventory and the receipt of cash from accounts receivable, reflecting how quickly a company can convert its products into cash through sales.