Sandy worked for a small printing company. She found a new job that would pay much more. In accordance with company policy, she gave her employer a two-week notice that she would be leaving. Her employer was upset she was quitting, so he terminated her
employment immediately. Sandy was upset because she thought she had acted properly by giving her employer two weeks' notice. Her new employer will not be able to employ her for two weeks. Sandy believes her employer has breached the employment agreement and she should be paid for the two weeks between jobs. Is she right? Explain.
No, Sandy is probably not right. Sandy is very likely an at-will employee and can have her employment terminated at any time by the employer (just as she can leave at any time). A few public policy related exceptions do exist to protect at-will employees, and the courts have also held that an employee handbook may create rights to protect the employee. However, generally speaking, neither the employer nor the employee are very bound to the other.
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If A and B are independent events with P(A) = 0.4 and P(B) = 0.25, then P(A?B) =
A. 0.65. B. 0.1. C. 0.625. D. 0.15.
Which of the following is a major source of pressure on unions to decrease the complexity and legalistic nature of collective bargaining contracts?
A. Increased frequency of strikes B. Declining unionization rates C. Need for increased workplace flexibility D. Increasing financialization of business
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Answer the following statement true (T) or false (F)
When an auditor of a nonpublic company has concluded there is substantial doubt about an entity's ability to continue as a going concern for a reasonable period of time beyond the date the financial statements will be released (1/26/X2), the auditor's responsibility includes:
A. Issuing an adverse or negative assurance opinion, depending upon materiality, due to the possible effects on the financial statements. B. Projecting conditions and events from one year prior to this year's date (12/31/X0) to 12/31/X1. C. Preparing prospective financial information to verify whether management's plans can be effectively implemented. D. Considering the adequacy of disclosure about the entity's possible inability to continue as a going concern.