The provision of the Occupational Health and Safety Act that states that an employer has an overall obligation to furnish employees with a place of employment free from recognized hazards is known as the general duty clause.
Answer the following statement true (T) or false (F)
True
The main provision of OSHA states that each employer has a general duty to furnish each employee a place of employment free from recognized hazards that cause or are likely to cause death or serious physical harm. This is referred to as the general duty clause.
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Yamada Company applies factory overhead to its production departments on the basis of 90% of direct labor costs. In the Assembly Department, Yamada had $125,000 of direct labor cost, and in the Finishing Department, Yamada had $35,000 of direct labor cost. The entry to apply overhead to these production departments is:
A. Debit Factory Overhead $144,000; credit Work in Process Inventory-Assembly $112,500; credit Work in Process-Finishing $31,500. B. Debit Factory Overhead-Assembly $112,500; debit Factory Overhead-Finishing $31,500; credit Work in Process Inventory $144,000. C. Debit Work in Process Inventory-Assembly $112,500; debit Work in Process Inventory-Finishing $31,500; credit Factory Overhead $144,000. D. Debit Factory Overhead $144,000; credit Factory Wages Payable $144,000. E. Debit Factory Wages Payable $144,000; credit Cash $144,000.
From the insurance company's perspective, what is the difference between written premium and earned premium?
A) There is no difference; they are effectively the same thing. B) Written premiums are those that belong to the insurer; earned premiums do not belong to the insurer. C) Written premiums are the total premiums collected by the insurer; earned premiums are those that belong to the insurer. D) Written premiums reflect the total amount of coverage provided to insureds; earned premiums reflect the net profit of the insurer.
Which of the following is not a question for the Blanchard/Peale test for ethical behavior? A) Is it legal?
B) Does it follow industry code? C) Is it balanced? D) How does it make me feel?
Cox engaged Datz as her agent. It was mutually agreed that Datz would not disclose that he was acting as Cox's agent. Instead, he was to deal with prospective customers as if he were a principal acting on his own behalf. This he did and made several contracts for Cox. Assuming Cox, Datz, or the customer seeks to avoid liability on one of the contracts involved, which of the following statements
is correct? a. Cox must ratify the Datz contracts in order to be held liable. b. Datz has no liability once he discloses that Cox was the real principal. c. The third party can avoid liability because he believed he was dealing with Datz as a principal. d. The third party may choose to hold either Datz or Cox liable.