Jenna is fifteen years old. Under the Fair Labor Standards Act, Jenna cannot work
A. in the entertainment industry.
B. in a hazardous occupation.
C. for her parents.
D. in the delivery of newspapers.
Answer: B
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The general ledger is sometimes called the book of original entry because it is the accounting record where transactions are first recorded
a. True b. False Indicate whether the statement is true or false
Sales Tax is a contra-revenue account and is shown on the income statement as a reduction in the sales amount
Indicate whether the statement is true or false
Cameron Manufacturing Co's static budget at 5,000 units of production includes $40,000 for direct labor and $5,000 for variable electric power. Total fixed costs are $25,000. At 8,000 units of production, a flexible budget would show:
A) variable costs of $64,000 and $25,875 of fixed costs B) variable costs of $64,000 and $25,000 of fixed costs C) variable costs of $72,000 and $25,000 of fixed costs D) variable and fixed costs totaling $112,000
In which of the following industries is the going-rate pricing approach most often used?
A) jewelry B) automobiles C) airlines D) mobile phones