__________ is a pay system in which employees are paid according to the number of units they produce.
A. Piecework
B. Hourly work
C. Non-exempt work
D. Exempt work
Answer: A
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The Pennsylvania legislature enacts a state law that violates the U.S. Constitution. This law can be enforced by
a. no one. b. the federal government only. c. the state of Pennsylvania only. d. the United States Supreme Court only.
A voluntary health and welfare organization received unrestricted cash donations of $20,000 from donors who attended a dinner held for the benefit of the organization. The costs of the dinner, including room rental, and other expenses, amounted to $7,000. On the statement of activities prepared for the voluntary health and welfare organization, the expenses of the dinner should be:
A. reported as management and general expenses. B. reported as fundraising costs. C. netted against the $20,000 of contribution revenue. D. reported as programmatic expenses.
For a continuing audit client, when a complete set of financial statements is presented on a comparative basis for two years, the auditors' opinion would refer to:
A. Either one or both years at the option of the auditors. B. Each of the years in the two-year period. C. Only the current year under audit. D. Each of the two years plus the preceding year.
An organization undergoing significant going concern problems presents several challenges for the public accountant (PA) to consider. Discuss some of these.
What will be an ideal response?