Which of the following statements is NOT true of whistle-blowing?
A. Employees engage inwhistle-blowingwhen they report an employer's illegal actions.
B. Employers cannot discharge employees for reporting corporate wrongdoings.
C. Employers can discipline but not discharge employees for reporting corporate wrongdoings.
D. Employers may be liable to huge fines if found guilty of the whistle-blowing charges imposed on them.
Answer: C
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Sonesta Farm Equipment Company sold equipment for cash. The income statement shows a loss on the sale of $7,000. The net book value of the asset was $28,900. Which of the following statements describes the cash effect of the transaction?
A) positive cash flow of $35,900 from financing activities B) negative cash flow of $21,900 for operating activities C) negative cash flow of $21,900 for financing activities D) positive cash flow of $21,900 from investing activities
Suppose Lamont's exam score was at the 80th percentile on an exam whose mean was 90 . What was Lamont's exam score?
a. 76.81 b. 72.00 c. 80.00 d. Cannot tell without more information.
Cassie is excited to begin her first part-time job. She can't wait to earn vacation, have her own health insurance, and contribute to her pension.
Answer the following statement true (T) or false (F)
Individuals Rhett and Scarlet form Lady Corporation. Rhett transfers land and a building with a $140,000 adjusted basis and a $230,000 FMV in exchange for 50% of the stock of Lady Corporation worth $210,000 and a $20,000 note. Scarlet contributes cash of $230,000 for 50% of the stock of Lady Corporation worth $210,000 and a note of the Lady Corporation valued at $20,000. Rhett's recognized gain on the transfer is
A. $90,000. B. $0. C. $70,000. D. $20,000.