List the records that an employer is expected to maintain for all employees not exempted under the Fair Labor Standards Act (FLSA)
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To ensure that employers comply with the FLSA, the law imposes recordkeeping requirements on employers. For each nonexempt employee, the employer must maintain the following records: 1 ) employee's full name and Social Security number; 2 ) address, including zip code; 3 ) birth date, if under 18; 4 ) sex and occupation; 5 ) time and day of week when employee's workweek begins; 6 ) hours worked each day; 7 ) total hours worked each workweek; 8 ) basis on which employee's wages are paid (e.g., "$6 an hour," "$220 a week," "piece work"); 9 ) regular hourly pay rate; 10 ) total daily or weekly straight-time earnings; 11 ) total overtime earning for the workweek; 12 ) all additions to or deductions from the employee's wages; 13 ) total wages paid each pay period; and 14 ) date of payment and the pay period covered by each payment.
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Answer the following statements true (T) or false (F)
1) Stated value stock is no-par stock that has been assigned an amount similar to par value. 2) Retained earnings represents amounts received from stockholders of a corporation in exchange for stock. 3) Par value is an arbitrary amount that is assigned by the state when the corporate charter is issued. 4) For accounting purposes, par value stock is treated the same as stated value stock except for the account names. 5) The par value of a stock has no relation to the market value.
The ________ Clause of the U.S. Constitution prevents the government from enacting laws that either prohibit or inhibit individuals from participating in or practicing their chosen religions.
A. Due Process B. Privileges and Immunities C. Establishment D. Free Exercise
An investment project with a project profitability index of 0.04 has an internal rate of return that is less than the discount rate.
Answer the following statement true (T) or false (F)
The following cost items relate to the Henning Company. Classify each cost as a variable cost or a fixed cost by placing an X in the appropriate column. Each cost should be evaluated by how it changes in total with changes in the volume of activity. Also indicate with an X for each item if it is a product cost or a period cost.?Variable or fixed cost?Product or period cost?Cost itemVariableFixedProductPeriodExecutive salary????Direct labor????Direct materials????Depreciation of factory equipment????Indirect labor????Delivery expense????Television advertising????Indirect materials????
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