PHR Certification questions and answers graded A+ 2023/2024 passed

PHR Certification Accounts Payable - correct answer Money an organization owes its vendors and suppliers. Accounts Receivable - correct answer Money an organization's customers owe the organization. Action Plans - correct answer Detailed steps a unit, department, or team will take in order to achieve short-term objectives. Amendment - correct answer Modification or the Constitution or a law; modification may be either formal (written) or informal (unwritten). Assets - correct answer Financial, physical, and sometiems intangible properties an organization owns. Balance Sheet - correct answer Statement of a firm's financial position at a particular time. Balanced scorecard - correct answer Measurement approach that provides an overall picture of an organization's performance as measured against goals in finance, customers, internal business processes, and learning and growth. Bill - correct answer Proposal presented to a legislative body for possible enactment as a law. Break-even analysis - correct answer Analysis that shows point in time at which total revenue associated with a program is equal to the total cost of the program. Business Case - correct answer Description of an organizational challenge and possible alternative solutions, arguing for specific solution. Capacity - correct answer To an operations department, the ability to yield output. Cash flow statement - correct answer Record of how much cash is flowing into and out of an organization, including its sources or destinations. Centralization - correct answer Degree to which decision-making authority is restricted to higher levels of management in an organization. Code of ethics - correct answer Principles of conduct within an organization that guide decision making and behavior. Consumer price index - correct answer Measure of the average change over time in the prices paid by consumers for goods and services. Control - correct answer To an operations department, an after-the-fact evaluation of a company's ability to meet its own specifications and its customers' needs. Correlation - correct answer Measure that indicates the relationship between two variables. Cost-benefit analysis - correct answer Ratio of value created to cost of creating that value; allows management to determine the financial impact particular activities and programs have on an organization's profitability. Decentralization - correct answer Degree to which decision-making authority is given to lower levels in an organization's hierarchy. Departmentalization - correct answer Way an organization groups jobs to coordinate work. Divestiture - correct answer Sale by a company of an asset that is not performing well, that is not core to the company's business, or that is worth more as a separate entity. Divisional structure - correct answer Organizational structure in which segments ae separated by product, customer or market, or region.