In the United States, what is the legal requirement for giving employees paid vacation?
A. Employers must give employees 10 paid vacation days each year.
B. Employers must give the amount of paid vacation that makes economic sense.
C. Paid vacation must take place on specified days in addition to holidays.
D. Employers decide on paid time off; there is no minimum.
E. New employees must receive 25 or 30 days off.
Answer: D
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The inventory account a manufacturer uses to record the cost of products completed and available for sale is called
a. Raw materials inventory b. Work in process inventory c. Finished goods inventory d. Merchandise inventory
Scientific management achieved which of the following?
A. It decreased the monotony of work. B. It was eagerly accepted by workers. C. It gave workers control over their jobs. D. It increased productivity. E. It saw wide use for over a century.
On September 1, Year 1, Vincent Company loaned $24,000. The note had a 7% interest rate and a one-year term. Prepare the entries in general journal format for the following:a) Acceptance of the note on September 1, Year 1b) Accrual of interest on December 31, Year 1c) Collection of principal and interest on August 31, Year 2
What will be an ideal response?
Under the equity method, the investor ________
A) must debit the Long-term Investments account when a dividend is received B) must record its share of the investee's net income C) must use the LIFO method for tax purposes D) debits the Revenue from Investments when the investee reports income