If a customer trips and falls over a rip in the carpet in a retail store, who is liable under common law rules?
a. The customer is liable because he didn't watch where he was going.
b. The landlord alone is liable for not maintaining the property.
c. The tenant alone is liable for not informing the landlord of the defective carpet and getting it repaired.
d. The landlord and the tenant are probably both liable.
d
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Workers' compensation insurance provides insurance for employees who
a. lose their jobs; b. cannot pay their debts; c. go on strike; d. are injured on the job; e. need to go back to school for more training
All of the operating expenses in a professional firm are:
a. Overhead costs. b. Period costs. c. Labor costs. d. Product costs.
At the end of the fiscal year, the usual adjusting entry for accrued salaries owed to employees was omitted. Which of the following statements is true?
A) Salary Expense for the year was understated. B) The total of the liabilities at the end of the year was overstated. C) Net income for the year was understated. D) Owner's equity at the end of the year was understated.
A _______________________________ is an employer-initiated, rather than worker-initiated, work stoppage intended to force the union to agree to the employer's contract terms.
Fill in the blank(s) with the appropriate word(s).