Employee Retirement Income Security Act is established in 1974 mainly to protect the employee pension system from employer fraud.
<h3>What is Employee Retirement Income Security Act?</h3>
The Employee Retirement Income Security Act serves as an act of 1974 that contains rules on the federal income tax to favor employees.
This act, provides employee with benefit plans and a protection against wicked employers.
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Answer:
D. Treated as a loss in the period incurred.
Explanation:
The process-costing system is used by firms that produce goods that goes through a set of manufacturing departments i.e it's used when firms mass produce nearly identical or similar units through various processes.
Under process-costing system, direct costs of production are accumulated, summarized, and then assigned to all the units produced during the period.
Thus, a single product cost is calculated by dividing process cost in each manufacturing department by the respective units produced during the production period.
Some organizations that use the process-costing system are oil refineries, chemical processing companies, eraser manufacturing companies, and food production companies.
In a process-costing system, the cost of abnormal spoilage should be treated as a loss in the period incurred.
The abnormal spoilage refers to the cost exceeding normal level, associated with spoiled units of a manufacturing process. It should be treated as a loss in the period incurred because it cannot be recovered
The liabilities will be understated.
The right answer is keep social exchanges proactive and with intent.
What are Social exchanges ?
- Social exchange Proposition proposes that social behavior is the result of an exchange process.
- The reason for this exchange is to increase benefits and less costs.
- According to this proposition, people weigh the implicit benefits and pitfalls of their social connections. When the pitfalls overweigh the prices, they will terminate or abandon the relationship.
Most connections are made up of a certain quantum of give- and- take, but this doesn't mean that they're always equal.
Social exchange suggests that it's the valuing of the benefits and costs of each relationship that determine whether or not we choose to continue a social association.
Melina manages a platoon that's all remote. She wants to unite with her platoon to design and make a culture when working. So the suggestion to her and her team is to keep social exchanges proactive and with intent.
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Answer:
(i)New firms will enter the market.
(iii)In the long run, all firms will be producing at their efficient scale
Explanation:
A perfect competition is characterised by many buyers and sellers of homogenous goods and services. Market price is set by the forces of demand and supply.
If firms are earning positive profits, in the long run new firms would enter into the industry and this woold drive positive profits to zero. As a result , firms would be operating at the efficient scale.
I hope my answer helps you
