All of the following individuals are subject to Title VII through the Presidential and Executive Office Accountability Act except employees of the:?
A) House of Representatives.?
B) ?executive office of the president
C) ?executive residence at the White House.
D) ?official residence of the vice president.
A
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The materiality concept dictates that no internal controls be established over petty cash
Indicate whether the statement is true or false
Sailor Construction Company has consistently used the percentage-of- completion method. On January 10, 2014, Sailor began work on a $3,000,000 construction contract. At the inception date, the estimated cost of construction was $2,250,000 . The following data relate to the progress of the contract: Gross profit recognized at December 31 . 2014 .......... $ 300,000 Costs incurred Jan. 10, 2011,
through Dec. 31 . 2015 ... 1,800,000 Estimated cost to complete at December 31 . 2015 ....... 600,000 How much gross profit should Sailor recognize for the year ended December 31 . 2015? a. $150,000 b. $262,500 c. $300,000 d. $450,000
In a criminal case, the plaintiff is usually the victim of a crime
a. True b. False
A business makes a cash payment of $12,000 to a supplier for supplies purchased two weeks earlier. Which of the following accounts is debited?
A) Cash B) Accounts Payable C) Supplies D) Accounts Receivable