The Answer Is...
T. (True)
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Answer:
d. Has the company applied its rules, orders, and penalties evenhandedly and without discrimination to all employees?
Explanation:
The seven tests for Just Cause are the following:
- Adequate warning
- Reasonableness
- Completeness of investigation
- Objectivity of investigation
- Proof of infraction
- Uniformity of the rules application (option D refers to this specific Just Cause test)
- Reasonableness of discipline.
The Just Cause tests are used to determine if any disciplinary or termination action was fair, and not just because the employer or supervisor wants to.
Answer: D. balance sheet only
Explanation: The transaction will immediately affect the "balance sheet only" not the income statement or retained earnings.
Balance sheet shows the business net worth. Balance sheet shows the financial position of a business listing the liabilities and assets and owners equity at a particular time.
So Genesis buying a new equipment on credit will show in its balance sheet.
Consumer demand is the relationship between the price and quantity that is being demanded. During this time organizations are figuring out the relationship between the price points they pick and how much consumer wants the items.
The law that allows for action to be taken in case of errors in Carlos credit report is Answer: C. Fair Credit Reporting Act
The Fair Credit Reporting Act is also known as FCRA which was establisted by the U.S. Federal Government legislation to protect and promote fairness of consumer information.
Answer: b. pays cash before the expense has been incurred.checked
d. receives cash before the revenue has been generated
Explanation:
Here is the complete question:
Deferral adjustments are needed when the business:
a. pays cash after the expense has been incurred.unchecked
b. pays cash before the expense has been incurred.checked
c. receives cash after the revenue has been generated.unchecked
d. receives cash before the revenue has been generated.
Adjustments are made during the end of every accounting period in order to report the revenues and the expenses in proper period at which they occur and also in order to report the assets and the liabilities at their appropriate amounts.
Deferral adjustment is when the revenue or the expense has been deferred or postponed and will therefore be reported on the income statement at a later period.
Previously deferred amounts will show on the balance sheet when a company pays cash before having to incur the expense or in a case whereby the company gets and collects cash before earning the revenue.
When revenues are made or when expenses are incurred, the previously deferred amounts will have to be adjusted and then, the amounts will be transferred to income statement through the use of the deferral adjustment.