The Age Discrimination in Employment Act of 1967 (ADEA) permits discrimination in pay, benefits, or continued employment for employees age 40 and over.
Answer the following statement true (T) or false (F)
False
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Which of the following is/are not true?
a. U.S. GAAP and IFRS require firms to recognize the cost of retirement benefits (pensions, health care, life insurance) as an expense while employees work, not when they receive payments or other benefits during retirement. b. Employers often contribute cash to a trust, an entity legally separate from the employer, to fund their retirement obligations. c. The accounting records of the trust established to fund the retirement obligations are consolidated with the accounting records of the employer. d. Payments to employees come from both the employer's contributions and investment returns of the trust established to fund the retirement obligations. e. all of the above
Indicate whether each of the following items regarding petty cash is true or false. ________ a) The establishment of a petty cash fund is an asset use transaction.________ b) The replenishment of a petty cash fund is an asset source transaction.________ c) At any time, the total of the petty cash vouchers plus the remaining coins and currency should equal the balance of the Petty Cash ledger account.________ d) If a shortage occurs, the Cash Short and Over account is credited.________ e) There is no journal entry made in the accounting records when petty cash funds are disbursed.
What will be an ideal response?
In order to violate the FTC rules on advertising, a product would have to be affirmatively mislabeled
Indicate whether the statement is true or false
Accounting statements that are prepared for tax purposes and for outside investors often aren't helpful for managers who need to make decisions about marketing strategy.
Answer the following statement true (T) or false (F)