Labor Recruiters, Inc., has been ordered to appear at a hearing before an administrative law judge of the National Labor Relations Board. A significant difference between a trial and an administrative hearing is that
A. attorneys are not allowed to attend administrative hearings.
B. clients are not allowed to communicate with their attorneys during administrative hearings.
C. hearsay can be introduced as evidence in an administrative hearing.
D. the burden of proof is on the charged party to prove innocence.
Answer: C
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On January 1, 2018, Como Company purchased 45% of the outstanding common shares of the Lite Company for $200,000. The net assets of Lite Company totaled $400,000. The inventory had a book value of $100,000 and a fair value of $120,000. Excess cost attributable to inventory is written off in 2018. During 2018, Lite Company earned $200,000 and declared a dividend of $40,000 for the year.The amount of goodwill implicit in Como's transaction is
A. $22,000. B. $20,000. C. $11,000. D. $9,000.
The difference between accrual-based revenue and accrual-based expenses is called _________________________
Fill in the blank(s) with correct word
When the FASB deliberates about an accounting standard, firms whose financial statements would be affected by that standard
a. are legally barred from lobbying the FASB. b. are not allowed to lobby the FASB if the standard would have a negative impact on their financial statements. c. are not allowed to lobby the FASB if the standard would have a positive impact on their financial statements. d. are free to lobby for or against the standard.
List the statutory benefits required by federal law.
What will be an ideal response?