"Tipped employees" can be paid less than the minimum wage provided:
a. they agree to a reduced minimum wage salary, however, if they don't agree they must be paid the full minimum wage and any tips are forfeited to the employer or the other employees
b. they retain on an individual basis all tips that are earned; pooling of tips is not permitted
c. their total pay in wages and tips equals at least the minimum wage
d. the employee customarily and regularly receives at least $30 per week in tips
C
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Which of the following systems provides for a separate record of the cost of each particular quantity of product that passes through the factory?
A) Job order cost system B) General cost system C) Replacement cost system D) Process cost system
PBJ Corporation issued bonds on January 1, 2006. The bonds had a coupon rate of 5.5%, with
interest paid semiannually. The face value of the bonds is $1,000 and the bonds mature on January 1, 2021. What is the yield to maturity for a PBJ Corporation bond on January 1, 2012 if the market price of the bond on that date is $950? A) 6.23% B) 5.50% C) 8.43% D) 10.50%
If a firm’s competence lies in the manufacture of unique products and it targets a narrow range of market segments it is said to be pursuing a _________________ strategy.
(a) Cost focus (b) Cost leadership (c) Focussed differentiation (d) Differentiation
[a] What are the responsibilities of a company’s board of directors? [b] Could the board of directors at Enron—especially the audit committee—have prevented the fall of Enron? [c]Should they have known about the risks and apparent lack of independence with Enron's SPEs? What do you think they should have done about it?
What will be an ideal response?