Tammy's Craft Corner Working at a Local University, Tammy's Favorite Hobby Included Anything

question 33

Multiple Choice

Tammy's Craft Corner
Working at a local university, Tammy's favorite hobby included anything related to crafts. She could spend hours pouring over the craft books to actually working on and talking to people about craft projects. Tammy was great at what she did and liked to do, but lacked the money management skills. So when Tammy opened her business "Tammy's Craft Corner". Her son, a business major, decided to step in and help mom with managing the money side of the business.

-The amount owed to vendors from whom Tammy purchased the craft merchandise on credit is called:

• A)payables.
• B)demand deposits.
• C)receivables.
• D)inventory.

---

Definitions:

Downsizing

Activities undertaken to improve organizational efficiency, productivity, and/or competitiveness that affect the size of the firm's workforce, its costs, and its work processes.

Laying Off Employees

The act of temporarily or permanently removing employees from their positions, often due to economic downturns or organizational restructuring.

HR Forecasting Process

The process used by organizations to estimate their future human resources needs based on current data and trends, ensuring they have the right number of employees with the right skills.

Staffing Needs

The identification and evaluation of requirements for current and future personnel to meet the organizational objectives.