A nonprofit organization does not hire staff working at a nearby assisted-living facility but does hire staff working at a nearby senior retirement community. This nonprofit organization may be practicing ______.
A. quotas
B. merit principles
C. disparate impact
D. affirmative action
C. disparate impact
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You are considering buying a discount bond that costs $1,000 today and pays you $1,200 in one year. However, there is a 10 percent chance that the company issuing the bond will go bankrupt and not pay you your interest or return your principal. What is the expected return on the bond?
A. 20 percent. B. 10 percent. C. 8 percent. D. ?4 percent.
Which of the following controls related to management's asset impairment judgments does the auditor need to understand?
a. A systematic process to identify assets that are not currently in use. b. Projections of future cash flows that is based on management's strategic plans and economic conditions. c. Systematic development of current market values of similar assets prepared by the client. d. All of the above.
The gross margin ratio:
A. Should be greater than 1 for merchandising companies. B. Is a measure of liquidity and should exceed 2.0 to be acceptable. C. Is also called the profit margin. D. Indicates the percent of sales revenue remaining after covering the cost of the goods sold. E. Is also called the net profit ratio.
The term structure of interest rates states that
A) terms of the loan have major effects on the interest rate. B) the long term interest rate is the geometric mean of the series of short term rates covering the same period. C) the long term rate would be higher than the individual short term rates in a rising interest rate environment. D) Both B and C are correct.