If you're responding to a claim and your company is at fault, it is best to
A) avoid sympathizing with the customer, since it can lead to lawsuits.
B) do all you can to discourage further correspondence.
C) take (or assign) personal responsibility for setting matters straight.
D) be vague about when the claim may be resolved.
E) wait at least two weeks before you respond.
Answer: C
Explanation: C) Take or assign personal responsibility for resolving the situation. You want to convey the idea that as a representative of the company you are responsible for doing whatever it takes to make the situation right.
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Recording employee payroll deductions may involve:
A. Liabilities to federal and state governments. B. Expenses for the gross wages and salaries. C. Expenses for state unemployment. D. Liabilities to the employer. E. Expenses for the employer portion of any medical insurance.
The City of Castle Rock issued bonds at par for the construction of a new city office building. Receipt of the bond proceeds would result in journal entries in which funds?
A. Capital Projects Fund: Yes; Debt Service Fund: Yes B. Capital Projects Fund: No; Debt Service Fund: No C. Capital Projects Fund: No; Debt Service Fund: Yes D. Capital Projects Fund: Yes; Debt Service Fund: No
The wages and benefits of federal government employees are determined:
A. Through collective bargaining B. By the Director of the Office of Personnel Management C. By Presidential directive D. By civil service rules
Andrew Merrill, owns a mobile sandwich and pretzel stand. Andrew borrows $5,200 for 135 days at 9% ordinary simple interest. What total will Andrew need to repay for both interest and principal? (Use a 360-day year.)