The fixed amount in a salesperson's salary is primarily designed to stimulate and reward efforts from salespeople
Indicate whether the statement is true or false
FALSE
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Using the retail inventory method, if the cost to retail ratio is 75% and ending inventory at retail is $159,000, then estimated ending inventory at cost is $221,143.
Answer the following statement true (T) or false (F)
Identify a true statement about the provisions of the Family and Medical Leave Act (FMLA).
A. Businesses are required to offer up to 26 weeks of unpaid leave to employees who provide care to wounded U.S. military personnel. B. It is not mandatory for employers to give leave takers their previous jobs (or comparable positions) when their leaves are over. C. The act clearly defines "qualifying exigency," and it does not include overseas military assignments, recalls to active duty, and troop mobilizations. D. The act exempts employers with more than 50 employees from providing FMLA leave to immediate family members of soldiers of the National Guard.
In regards to extraordinary items, which of the following statements is not correct?
A) Losses due to lawsuits do not qualify as extraordinary. B) An extraordinary gain is reported the same as a loss - net of the income tax effect. C) Taking of a company assets by a foreign government are generally considered to be extraordinary items. D) Extraordinary items are reported separately from continuing operations because of their infrequent and unusual nature.
Following negotiations, Office Park, Inc, enters into an informal contract with Quality Janitorial Company for custodial services for Office Park's buildings. This means that the parties' contract
a. requires no special form. b. is freely open to either party's interpretation. c. is subject to change by either party, within reason. d. is not yet completely formed.