Describe the three government agencies established to administer and enforce the Occupational Safety and Health Act.
What will be an ideal response?
The 1970 act established three government agencies to administer and enforce the law:
1. The Occupational Safety and Health Administration (OSHA) to establish and enforce the necessary safety and health standards. However, a 1998 law prohibits the Occupational Safety and Health Administration from evaluating compliance officers and their supervisors on the basis of enforcement activities, such as the number of citations issued or penalties assessed. Today, the Occupational Safety and Health Administration emphasizes three overarching goals: strong, fair and effective enforcement, outreach, education and compliance assistance, and partnerships and cooperative programs.
2. The Occupational Safety and Health Review Commission (a three-member board appointed by the president) to rule on the appropriateness of the Occupational Safety and Health Administration's enforcement actions when they are contested by employers, employees, or unions.
3. The National Institute for Occupational Safety and Health (NIOSH) to conduct research on the causes and prevention of occupational injury and illness, to recommend new standards (based on this research) to the secretary of labor, and to develop educational programs.
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A business pays $500 cash for office supplies. Which of the following accounts is debited?
A) Cash B) Accounts Payable C) Office Supplies D) Utilities Expense
When a country produces more of one good, it must produce less of another good (assuming that resources are finite). The value of the second-best choice—the value of the production that a country gives up in order to produce the first product—represents the _____ of producing the first product.
A. money cost B. opportunity cost C. sunk cost D. differential cost
Neef Corporation has provided the following data for its two most recent years of operation: Selling price per unit$84Manufacturing costs: Variable manufacturing cost per unit produced: Direct materials$12Direct labor$5Variable manufacturing overhead$4Fixed manufacturing overhead per year$432,000 Selling and administrative expenses: Variable selling and administrative expense per unit sold$5Fixed selling and administrative expense per year$61,000 Year 1 Year 2Units in beginning inventory0 3,000Units produced12,000 9,000Units sold9,000 10,000Units in ending inventory3,000 2,0000 Which of the following statements is true for Year 2?
A. The amount of fixed manufacturing overhead released from inventories is $654,000 B. The amount of fixed manufacturing overhead deferred in inventories is $12,000 C. The amount of fixed manufacturing overhead released from inventories is $12,000 D. The amount of fixed manufacturing overhead deferred in inventories is $654,000
In the Plus-Delta method of evaluating project meetings, the "delta" column is used for team members to offer their opinion about one aspect of the meeting that ________.
a. Was good and should be repeated b. Was poor and could be avoided (changed) in future meetings c. Was an issue raised in the meeting should be followed up before the next meeting d. Involves the behavior of one of the team members