Maxine lost her job as an electrical engineer with a large company that had provided health insurance benefits for Maxine and her family. She now
A. must try to find insurance on her own or try to find another job with health insurance benefits.
B. is protected under COBRA, which allows her continued health insurance coverage for 18 months as long as she pays the cost.
C. is protected under COBRA, which requires her employer to continue her health insurance coverage for six months under whatever copayment arrangements she had while she was employed.
D. has some protection under the NLRA, which requires her employer to pay for continued health insurance for three months following her termination if she did not leave the company voluntarily.
Answer: B
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The Michael Company has an accounts receivable account in its general ledger, and it also maintains a subsidiary ledger that contains an individual account for each of its customers who buys merchandise on credit. Which of the following statements about the general ledger account is not true?
A) The general ledger account is also called a contra account. B) The balance of the general ledger account should agree with the total of all of the accounts in the subsidiary ledger. C) The general ledger account is called a permanent account. D) The general ledger account is properly referred to as a control account.
________ serve bulk industries such as coal, lumber, and heavy equipment, assuming title and risk from the time an order is accepted to its delivery
A) Producers' cooperatives B) Cash and carry wholesalers C) Truck wholesalers D) Drop shippers E) Rack jobbers
Though focus on quality is considered a modern management issue, the Deming Application Prize actually originated in 1951
Indicate whether the statement is true or false
As of December 31, Year 1, Gant Corporation had a current ratio of 1.29, quick ratio of 1.05, and working capital of $18,000. The company uses a perpetual inventory system and sells merchandise for more than it cost. On January 1, Year 2, Gant purchased merchandise on account for $4,000. Which of the following statements is correct?
A. Gant's quick ratio will increase and its current ratio will decrease. B. Gant's working capital will increase. C. Gant's current ratio will decrease. D. Gant's quick ratio will increase.