The Concept of "Human Resource Management" Implies That Employees in an Organization

question 94

True/False

The concept of "human resource management" implies that employees in an organization cannot be considered as a resource and hence are interchangeable.

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Definitions:

Standard Cost

Predetermined costs for manufacturing or service processes, used as benchmarks for performance evaluation.

Variance Investigation

The process of examining the reasons behind differences between budgeted and actual figures in finance and accounting.

Direct Material Quantity Variance

The difference between the budgeted amount of materials needed for production and the actual amount used, valued at the standard cost.

Cost Standards

Benchmarks or predetermined costs relating to the production of goods or services, serving as a yardstick for measuring actual performance against expected costs.