Which of the Following Is a Standard That Human Resource

question 86

Multiple Choice

Which of the following is a standard that human resource managers must satisfy for HRM practices to be ethical?

• A) Managers must treat employees as family.
• B) Human resource practices must result in the greatest good for the largest number of people.
• C) Employment practices must respect employees' right of lifetime employment.
• D) Managers must always maintain that customers are right.
• E) Employment practices must limit the application of the principle of employment-at-will as it is unfair to employees.

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Definitions:

Perpetual LIFO

Perpetual LIFO, or Last-In, First-Out, is an inventory accounting method continuously updating inventory and costs of goods sold by assuming the last items purchased are the first to be sold.

Ending Inventory

The worth of products ready for purchase at the conclusion of a financial period.

Cost Flow Assumption

A method adopted by businesses to value inventory and determine the cost of goods sold, such as FIFO (First In, First Out) or LIFO (Last In, First Out).

FIFO

"First In, First Out," an inventory valuation method assuming that the first items purchased are the first ones sold, affecting the cost of goods sold and ending inventory value.