Under the FLSA, exempt status of employees depends on their
A. work experience.
B. job title.
C. organizational commitment.
D. job responsibilities and salary.
E. job qualifications.
Answer: D
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The master budget normally covers:
A. Three months. B. 5-10 years. C. 1-5 years. D. 1 year.
Adam Corporation owns 1,000 shares of common stock of Rosen, Inc, a large publicly traded company listed on a major stock exchange. If Rosen issues a 20 percent stock dividend when the par value is $10 per share and the market value is $70 per share, how much and what type of income should Adam report?
a. $0 b. $2,000 ordinary income c. $14,000 ordinary income d. $2,000 ordinary income and $12,000 extraordinary income
Singer and McMann are partners in a business. Singer's original capital was $40,000 and McMann's was $60,000. They agree to salaries of $12,000 and $18,000 for Singer and McMann respectively and 10% interest on original capital. If they agree to share remaining profits and losses on a 3:2 ratio, what will McMann's share of the income be if the income for the year was $15,000?
A) $6,000 B) $9,400 C) $12,600 D) $14,000
According to the textbook, to create the best working culture, it is essential to understand how organizational structure influences ___________________.
a. Technology within the organization b. Top-down leadership c. Employee behavior d. Political processes within the organization