Which of the Following Is True Regarding H-1B Visas

question 5

Multiple Choice

Which of the following is true regarding H-1B visas?

• A) Employers may apply for permanent H-1B visas for foreign workers.
• B) There is a cap of 50,000 workers per year who can obtain such visas.
• C) H-1B visa holders may not change jobs as soon as their employer files an approval petition and they are restricted to their current geographic area.
• D) None of the above.

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Definitions:

Reversing Entries

Journal entries made at the beginning of an accounting period to reverse or cancel out adjusting entries made at the end of the previous period.

Accrued Liabilities

Liabilities that have been incurred but not yet paid or recorded at the end of the accounting period.

Accrued Receivables

Amounts owed to a business for goods or services delivered but not yet paid by the end of an accounting period.

Income Summary Account

An account used in closing to collect revenues and expenses, the balance of which shows the net income or loss for the period.