Entre Final Exam Review 3

In the accounting equation, assets must always equal

• owner's equity minus liabilities.
• current liabilities plus long-term liabilities.
• liabilities minus owner's equity.
• liabilities plus owner's equity.

he level of inventory you keep in stock depends on all expect:

• The costs of carrying inventory
• The costs of lost sales due to being out of stock
• Your stock turn-over rate
• Your net-profit-on-sales ratio

Inventory control involves

• establishing reorder points.
• determining when you need the most inventory in stock.
• scheduling deliveries to arrive at the point in time when you need the items.
• all of these.

Which of the following questions is appropriate and legally allowed on a job application?

• How old are you?
• What days are you available to work?
• Do you have children?
• Have you ever been to jail?

In a state with At Will employment, you must have a justifiable reason to fire an employee.

• True
• False

Good employees and a well-run human resource management program are not as important to your business as are capital, equipment, and inventory.

• True
• False

The _____________________ should include detailed information on the rate and frequency of pay, and employers offered bonuses, retirement, paid leave, health benefits and any other non-wage benefit.

• Job description
• Employee compensation package
• Job application
• Employee performance assessment

________ resource management is the practice of recruiting, hiring, deploying and managing an organization's employees.

• Human
• Worker
• Employee
• Natural

Which of the following is not a strategy for dealing with a risk?

• Assume the risk
• Avoid the risk
• Assign the risk
• Transfer the risk

A(n) _____ risk is faced by a large number of people and for which the amount of loss can be predicted.

• Speculative
• Uninsurable
• Insurable
• Pure