Managers who fail to treat workers with respect or companies that view workers only as costs invite collective action by employees to remedy these conditions.
Answer the following statement true (T) or false (F)
True
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The remaining cash of a partnership (after creditors have been paid) upon liquidation is divided among partners according to their
a. capital balances b. contribution of assets c. drawing balances d. income sharing ratio
The Lucas Company offers employees a defined contribution pension plan. In 2015, Lucas contributed $175,000 to the plan, which paid $195,000 to retired employees. Which of the following statements is true?
A) Lucas will record an accrued liability of $20,000. B) Lucas will report pension expense of $175,000. C) Lucas will recognize prior service cost of $20,000. D) Lucas will recognize actuarial gains and losses on the plan over current and future periods.
Bertie Corporation has two divisions: Retail Division and Wholesale Division. The following data are for the most recent operating period: Total CompanyRetail Division Wholesale DivisionSales$608,000$375,000 $233,000 Variable expenses$185,530$90,000 $95,530 Traceable fixed expenses$303,000$217,000 $86,000 The common fixed expenses of the company are $103,360.The Retail Division's break-even sales is closest to:
A. $369,408 B. $584,815 C. $285,526 D. $421,526
A company exchanged its used machine for a new machine in a transaction that had commercial substance. The old machine cost $68,000, and the new one had a cash price of $95,000. The company had taken $59,000 depreciation on the old machine and was allowed a $2,500 trade-in allowance and the balance of $92,500 was paid in cash. What gain or loss should be recorded on the exchange?
What will be an ideal response?