How Many Hours Does a Full-Time Employee Work Per Year

question 1

Multiple Choice

How many hours does a full-time employee work per year?

• A) 1,040 hours
• B) 1,664 hours
• C) 1,872 hours
• D) 1,950 hours

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Definitions:

FOB Shipping Point

A term used in shipping contracts indicating that the buyer is responsible for the goods and the shipping cost from the moment they leave the seller's premises.

Physical Inventory

The process of counting by hand the actual inventory available in a business at a specific time, typically done periodically.

Cost of Inventory

The total expense to purchase and manage inventory stocks, including purchase costs, shipping, handling, and storage.

Perpetual Inventory System

An accounting system that continuously updates inventory records and cost of goods sold after each purchase or sale.