Human Resources Management (DECA) Exam Study Guide.
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Human Resources Management
Human Resources Management (DECA)
Exam Study Guide.
Absence - answerTime off when an employee is not at work during their normal work period.
Can be scheduled or unscheduled.
Absolute advantage - answerthe ability to produce a good using fewer inputs than another
producer
Accounts receivable ...
Human Resources Management (DECA)
Exam Study Guide.
Absence - answer✔Time off when an employee is not at work during their normal work period.
Can be scheduled or unscheduled.
Absolute advantage - answer✔the ability to produce a good using fewer inputs than another
producer
Accounts receivable - answer✔amounts that are currently owed to a firm
Ad-hoc committee - answer✔Committee formed for a specific task or objective, and dissolved
after the completion of the task or achievement of the objective.
Advance order - answer✔An order for goods and/or services ordered before the move-in date for
an exhibition. Usually less expensive than a floor order.
Agency Relationship - answer✔A business relationship where a principal gives legal authority to
an agent to act on the principal's behalf when dealing with a third party
Apparent authority - answer✔A third party responsibly assumes that the principal granted
authority to the agent
Agent - answer✔Person who is legally authorized to act on behalf of another party in business
transaction
Arbitration - answer✔the process or act of resolving a dispute
Balance sheet - answer✔A condensed statement that shows the financial position of an entity on
a specified date( assets = liabilities + owners' equity)
Base Salary - answer✔a fixed amount of money paid to an employee by an employer in return
for work performed. Does not include benefits, bonuses or any other potential compensation
from an employer.
Benchmark Job - answer✔A job commonly found in the workforce for which pay and other
relevant data are readily available. used to make pay comparisons and job evaluations.
Benefits - answer✔a form of compensation above the amount of pay specified as a base salary or
hourly rate of pay. Also a portion of a total compensation package for employees.
Blanket order - answer✔a purchase order the customer makes with its supplier which contains
multiple delivery dates over a period of time, often negotiated to take advantage of
predetermined pricing.
Bonds - answer✔A certificate issued by a government or private company which promises to
pay back with interest the money borrowed from the buyer of the certificate.
Bonus - answer✔Compensation above and beyond that defined by a base salary our hourly wage.
Bot - answer✔Type of computer program that scours the internet, searching for the information
requested by a user.
Budget Credit account - answer✔A form of short-term credit often set up for 60- or 90-day
periods with a payment due every 30 days
Bumping - answer✔Giving long-standing employees, whose positions are to be eliminated, the
option of taking other positions within the company that they are qualified for and that are
currently held by employees with less seniority.
Business analytics - answer✔Process of determining and understanding the effectiveness of
various organizational operations.
Business relationship - answer✔An association between individuals or companies sometimes
formalized with legal contracts
Buyout - answer✔An offer made by a company to its employees, often including a severance
package, in exchange for leaving the company.
Cash flow - answer✔Incomings and outgoings of cash, representing the operating activities of an
organization.
Coaching - answer✔The first step in any effort to improve employee performance is counseling
or _____. Counseling or ______ is part of the day-to-day interaction between a supervisor and an
employee. _____ provides positive feedback about employee contributions and helps improve
performance.
COBRA - answer✔_____ gives employees and their families, who lose their health benefits
because of unemployment, the right to continue to pay for group health benefits provided by
their group health plan. These health care benefits may be extended for limited periods of time
under certain circumstances according to the COBRA regulations.
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