Precious metals decrease in value with an increase in inflation
Indicate whether the statement is true or false
FALSE
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Features of a 401(k) plan include all of the following except:
a. Pension benefits are based on past earnings and length of service with the company. b. The employer may match a certain portion of the employee's investment. c. Taxes are deferred on wages invested in the plan. d. Investments may be made in company stock, mutual funds or other investment vehicles.
Linkletter obtained a five-year sublease and paid $25,000 to the current tenant on January 1, 20X1. The entry to record the transaction is:
A) Leasehold 25,000 Cash 25,000 B) Lease Expense 25,000 Cash 25,000 C) Leasehold 20,000Lease Expense 5,000Cash 25,000 D) Leasehold 5,000 Cash 5,000
Assume that a firm uses the accrual basis of accounting. Indicate the amount of expense the firm recognizes during the month of November for each independent transaction
a. Rent of $3,600 is paid on November 1 for the months November through January. b. Inventory costing $2,500 is ordered on account. The invoice is received on November 25 and the goods are received on December 5. c. Insurance premium of $900 is paid for a full year of coverage starting November 1. d. On December 3, an invoice for November utilities of $325 is received. e. On November 1, supplies costing $2,200 are purchased. At November 30, $500 of supplies remained on hand.
Given the current criticisms against detailed, legalistic employment contracts between union members and their employers, how did these contracts develop and why have they persisted for so many years? Begin your response by describing the features of a typical union contract.
What will be an ideal response?