The ____________ is a law that requires an extension of health insurance benefits after termination.
A. Health Insurance Portability and Accountability Act (HIPAA)
B. Social Security Act
C. Civil Rights Act
D. Occupational Safety and Health Act
E. Consolidated Omnibus Budget Reconciliation Act (COBRA)
E. Consolidated Omnibus Budget Reconciliation Act (COBRA)
The Consolidated Omnibus Budget Reconciliation Act (COBRA) requires an extension of health insurance benefits after termination.
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The HR manager told Jim that the company pays the total health insurance costs for a family of four. As a single man, this benefit did not seem especially important to him right now. Here, Jim is low on the ______ element of the expectancy theory.
A. expectancy B. instrumentality C. valence D. outcomes E. significance
The net realizable value approach is used to account for scrap and by-products when the net realizable value is significant
Indicate whether the statement is true or false
A firm that spends too much on promotion in good sales periods and too little in poor sales periods probably uses which overall promotional budgeting technique?
a. retailer buildup b. competitive parity c. incremental d. percentage-of-sales
Bohon Corporation manufactures one product. It does not maintain any beginning or ending Work in Process inventories. The company uses a standard cost system in which inventories are recorded at their standard costs. There is no variable manufacturing overhead. The standard cost card for the company's only product contains the following information concerning direct materials:InputsStandard Quantityor HoursStandard Price or RateStandard CostDirect materials1.0pounds$5.50per pound$5.50During the year, the company completed the following transactions concerning direct materials:a. Purchased 19,700 pounds of raw material at a price of $4.70 per pound.b. Used 18,500 pounds of the raw material to produce 18,400 units of work in process.The company calculated the following direct materials
variances for the year: Materials price variance$15,760FMaterials quantity variance$550U Assume that all transactions are recorded on the below worksheet, which is similar to the worksheet shown in your text except that it has been divided into two parts so that it fits on one page. The beginning balances in each of the accounts have been given. PP&E (net) stands for Property, Plant, and Equipment net of depreciation.?CashRaw MaterialsWork in ProcessFinished GoodsPP&E (net)?1/1$1,030,000$53,350$0$88,880$737,900=a.?????=b.?????=?Materials Price VarianceMaterials Quantity VarianceLabor Rate VarianceLabor Efficiency VarianceFOH Budget VarianceFOH Volume VarianceRetained Earnings1/1$0$0$0$0$0$0$1,910,130a.???????b.???????When recording the raw materials used in production in transaction (b) above, the Raw Materials inventory account will increase (decrease) by: A. $86,950 B. $101,750 C. ($101,750) D. ($86,950)