What does the 1963 Equal Pay Act requires?
What will be an ideal response?
It requires employers to pay men and women equal wages for equal work, unless the employer can justify the differential by seniority, merit, piecework, or any other factor other than sex.
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Barley Company is a medium-sized industrial firm that has been audited by your firm for several years. The only interest-bearing debt owed by Barley is a $300,000 long-term notes payable held by First National Bank. The notes were issued 4 years earlier
and will mature in 8 more years. Barley is highly profitable, has no pressing needs for additional financing and has excellent internal controls of the recording of loan and related interest cost transactions. REQUIRED: 1 . Based on this scenario, describe the auditing procedures that you think will be necessary for notes payable and related interest accounts. 2 . How will you answer differ if instead Barley Company was unprofitable, needed additional financing and had ineffective internal controls?
Managerial accounting information for a company is primarily used by ________.
A) its customers to understand the pricing of the product B) its creditors to understand the credibility of the business C) its employees to plan, direct and control operations D) its investors to make their investment decisions
Cash equivalents represent long-term, highly liquid investments in which a firm has temporarily placed excess cash
Indicate whether the statement is true or false
Below are several people and their current ratios. If they were to lose their jobs today, which one would probably experience financial stress and pressures the quickest?
A) Elmo has a current ratio of 0.5 times. B) Andy has a current ratio of 2.1 times. C) Dee has a current ratio of 1 time. D) There is not enough information to answer this question.