Discuss the concept of disposable income
What will be an ideal response?
ANSWER: As disposable (or after-tax) incomes rise, more families and individuals can afford the "good life." In recent years, however, average U.S. incomes have actually fallen. The annual median household income in the United States in 2014 was approximately $51,000, though the median household income varies widely from state to state. Education is the primary determinant of a person's earning potential. For example, just one percent of workers with only a high school education earn over $100,000 annually. By comparison, thirteen percent of college-educated workers earn six figures or more. People with a bachelor's degree take home an average of thirty-eight percent more than those with just a high school diploma.
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Having one person responsible for performing several activities, all due at the same time, is an example of a(n) ________ constraint.
Fill in the blank(s) with the appropriate word(s).
Which of the following statements concerning manufacturing costs is incorrect?
A. Direct labor costs are recorded initially in an inventory account. B. The cost of direct materials can be readily traced to products. C. All salaries incurred by the sales department are expensed as incurred. D. Depreciation on manufacturing equipment is a period cost.
Contracts in restraint of trade generally are enforceable because they positively affect public policy
Indicate whether the statement is true or false
An organization stores the details of its employees using Microsoft Access. The Employee table has EmployeeName, EmployeeID, Department, and Salary columns. Which of the following statements is true?
A) To view the average salary drawn by the employees of each department, the Group By option should be selected in the Total row under Salary. B) To count the number of employees in each department, the Group By option should be selected under EmployeeID, and the Count option under Department. C) To find the sum of salaries drawn by the employees of each department, the Group By option should be selected under Department and Sum under Salary. D) To count the number of employees having the same salary, the Group By option should be selected under EmployeeID, and Count under Salary.