Question 1

Workers' compensation insurance rates are regulated by the federal government and are uniform across the country.

Accepted Answer

Workers' compensation insurance rates are actually regulated by each individual state government, not the federal government. Rates can vary widely from state to state based on factors such as industry type, injury risk, and claims history.

Question 2

Any fines levied by the Occupational Safety and Health Administration (OSHA)are equal for entrepreneurial businesses with fewer than 25 employees as they are for large businesses.

Accepted Answer

OSHA often adjusts fines based on the size of the business, with smaller businesses potentially receiving reduced penalties compared to larger ones. This is part of OSHA's effort to account for the financial impact of fines on smaller entities.

Question 3

Human resource management includes ________ the employees.

Accepted Answer

Human resource management encompasses various aspects of managing employees, including their recruitment and selection, inspiring and motivating them, as well as managing their performance, training and development, and compensation and benefits. Therefore, all of the choices are correct.

Question 4

The rates of workers' compensation insurance for individual firms within a particular state are fairly standard and are generally based on the industry and size of the firm.

Accepted Answer

Rates for workers' compensation insurance are generally based on the industry and size of the firm, making them fairly standard within a particular state.

Question 5

The time period for which profit sharing or bonuses are given should be relevant to the individuals in a firm and within the realities and constraints of the business.

Accepted Answer

It is important for the time period for profit sharing or bonuses to align with the goals and objectives of the individuals in the company, as well as the limitations of the business. Otherwise, it may not provide appropriate incentives or be sustainable for the company's financial health.

Question 6

Which of the following represents the impact of a poor employee on the functioning of a small business?

Accepted Answer

All of these are potential impacts of a poor employee on the functioning of a small business. If one employee is not performing well, it can create problems for other employees and affect the overall productivity of the organization. Additionally, the owner may need to spend time addressing issues and correcting mistakes made by the poor employee, further detracting from the business's success.

Question 7

Unemployment compensation is the financial assistance for some period of time to those people who lose their jobs through no fault of their own.

Accepted Answer

Unemployment compensation is designed to financially assist individuals who are unemployed due to reasons outside of their control, such as a layoff or company closure.

Question 8

Human resources is defined in economics terms as the ________ and ________ of human effort directed toward producing goods and services.

Accepted Answer

Human resources in economics terms refer to the quantity and quality of human effort directed toward producing goods and services, emphasizing both the amount of work and its effectiveness.

Question 9

Which of the following is a document that describes a job that is to be filled?

Accepted Answer

Job description is a document that explains the duties, responsibilities, qualifications, and skills required for a job that needs to be filled. A job analysis is the process of analyzing and gathering information about a job. Job design is the process of organizing tasks and responsibilities within a job. A job plan outlines the steps and timeline for completing a specific project or task.

Question 10

An owner must develop a paper trail regarding an employee's bad performance.

Accepted Answer

This is true because if an employee's performance is not up to the mark, the owner must document it and keep a record of any formal discussions, warnings, or trainings given to the employee. This paper trail can be used in case of termination or legal disputes.

Question 11

When a small business owner is advertising a job, the company needs to attract ________ pool of applicants to choose from.

Accepted Answer

A larger pool of applicants increases the chances of finding the most suitable candidate for the job.

Question 12

OSHA stands for Office Standards and Health Administration.

Accepted Answer

OSHA stands for Occupational Safety and Health Administration.

Question 13

Workers' compensation is a law designed so that employees who are disabled or injured while on the job are provided with some type of compensation.

Accepted Answer

Workers' compensation laws are in place in most states to provide benefits to employees who are injured or disabled while on the job.

Question 14

ADA stands for the Americans with Disabilities Act.

Accepted Answer

ADA stands for the Americans with Disabilities Act which is a federal law that prohibits discrimination against individuals with disabilities.

Question 15

A small business owner should be diligent in documenting the performance of employees over time.This helps the owner to terminate an employee for poor performance and also efficiently handle any legal issues that may arise.

Accepted Answer

Documenting employee performance is important for both termination and legal purposes. It provides evidence to support the actions taken and protects the business from potential legal issues.

Question 16

Human resources in family businesses are critical, but since family members make up many of the significant employees in the company, everything becomes more delicate.

Accepted Answer

Family businesses have the added layer of potentially complex family dynamics that can impact human resources decisions and management. Additionally, familial relationships can make it harder to address performance issues or make tough staffing decisions. Thus, managing HR in family businesses requires care and attention.

Question 17

OSHA has attempted to shape its regulations to be more lenient in its regulations on large businesses than on small businesses.

Accepted Answer

OSHA regulations are the same for all businesses, regardless of size. There are no provisions that allow for leniency for larger businesses.

Question 18

________ is the quantity and quality of human effort directed toward producing goods and services.

Accepted Answer

Human resource management refers to the process of managing people in organizations to increase their effectiveness, and it involves activities such as recruitment, training, and performance evaluation. Therefore, it directly relates to the quantity and quality of human effort directed toward producing goods and services. A, B, and C are all aspects of human resource management but do not fully capture the concept of directing human effort toward production.

Question 19

Human resource management is not as important in family businesses.

Accepted Answer

Human resource management is equally or even more important in family businesses as the dynamics of such businesses are unique and require specialized attention. Effective HR management can help in resolving family conflicts, attracting and retaining talent, and ensuring a smooth succession plan.

Question 20

Employees are happy and satisfied when they feel that their compensation-given their performance-is equal to that of other employees in the firm or other individuals in similar situations.This is called the equity theory.

Accepted Answer

The statement describes the equity theory, which is true.

Quiz 10: Human Resource Management