Correct Answer: Correct answer is: (D) Only 1, 3.
Exam Relevance: HRM exams, Finance exams, Business ethics exams
Difficulty: Moderate
Concept notes: Human Resource Planning (HRP) can facilitate international expansion strategies by ensuring the organization has the right talent and resources to operate in new markets. The cash budget is indeed a statement of the firm's planned inflows and outflows of cash, which is crucial for financial planning. Discrimination based on gender, age, or race is illegal and unethical.
Common Mistakes: Students may incorrectly believe that discrimination in hiring can be justified under certain circumstances, or they may not fully understand the role of HRP in strategic planning.
Explanations: Human Resource Planning (HRP) is essential for international expansion as it helps organizations identify and prepare for the talent and resource needs in new markets. The cash budget is a fundamental financial tool that forecasts cash inflows and outflows, aiding in financial management. Discrimination based on gender, age, or race is illegal and unethical, making the second statement false.
Option Analysis: - Option A: Incorrect because the second statement is false.
- Option B: Incorrect because the second statement is false.
- Option C: Incorrect because the second statement is false.
- Option D: Correct because the first and third statements are true.
Mnemonic: HRP Facilitates, Cash Counts, Discrimination Disallowed