If Startup Expenses Total $53,000 in 2014,$51,000 Is Amortized Over

question 77

True/False

If startup expenses total $53,000 in 2014,$51,000 is amortized over 180 months.

---

Definitions:

Organization

A structured group of people working together to achieve common goals, guided by established regulations and operating procedures.

FLSA

The Fair Labor Standards Act, U.S. legislation that sets standards for minimum wage, overtime pay, and child labor protections.

Exempt Status

A classification under labor laws that categorizes employees who are exempt from overtime pay and/or minimum wage requirements, typically based on the type of work they perform.

Job Responsibilities

Specific duties and tasks that an employee is expected to perform as part of their role within an organization.