DECA HUMAN RESOURCES MANAGEMENT EXAM
NEWEST 2024 ACTUAL EXAM, PRACTICE EXAM AND
STUDY GUIDE COMPLETE 450 QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |
ALREADY GRADED A+
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.
Collective Bargaining - ANSWER: One or more unions meeting with the
representatives from an orgainzation to negotiate labor contracts.
NEWEST 2024 ACTUAL EXAM, PRACTICE EXAM AND
STUDY GUIDE COMPLETE 450 QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |
ALREADY GRADED A+
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.
Collective Bargaining - ANSWER: One or more unions meeting with the
representatives from an orgainzation to negotiate labor contracts.
