Requesting a Credit Report to Establish an Applicant's Employment Eligibility

question 27

True/False

Requesting a credit report to establish an applicant's employment eligibility is illegal according to the Fair Credit Reporting Act.

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Definitions:

Earnings Per Share

A measure of a company's profitability that calculates how much money shareholders would receive for each share they own if all profits were distributed.

Going Concern Assumption

A principle in accounting that assumes a company will continue its operations into the foreseeable future and is not expected to liquidate.

Fair Value

The price of an asset in the market at which it could be bought or sold, reflecting its current value under normal conditions.

Conceptual Framework

A set of theoretical principles and concepts that underpin the structure, preparation, and presentation of financial statements.