State and local governments are exempted from the provisions of the Civil Rights Act and Equal Employment law.
Answer the following statement true (T) or false (F)
False
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If the report is urgently needed, it is sometimes necessary to sacrifice accuracy in the interest of
A) timeliness B) personal feelings. C) profits. D) expectations.
Which of the following is correct regarding the provisions of IAS No. 8 on accounting changes and error corrections?
a. IAS No. 8 requires that correction of an error be made only by restatement of all prior periods presented. b. IAS No. 8 requires correction of an error to be made only by reflecting the effect of the correction in income of the period in which the error was discovered without restating previously reported results. c. IAS No. 8 allows correction of an error to be made either through restatement of all period periods presented or by reflecting the effect of the correction in income of the period in which the error was discovered without restating previously reported results. d. IAS No. 8 reflects a preference for not restating prior results in reporting accounting changes and error corrections.
A new entrant in a market dominated by established players introduces itself with copycat products of another competitor. Would this strategy work in the long-term for the firm? Justify your answer.
What will be an ideal response?
Which of the following statements is true about the relationship between the debt/assets ratio and the times-interest-earned ratio (TIE) of a firm? Consider everything else equal.
A. If the debt/assets ratio increases, the TIE ratio will also increase. B. If the debt/assets ratio decreases, the TIE ratio will increase. C. If the debt/assets ratio decreases, the TIE ratio will also decrease. D. The debt/assets ratio will always be equal to the TIE ratio. E. The debt/assets ratio and the TIE ratio are not related to each other.