Which of the Following Is Not True of the Enforcement

question 62

Multiple Choice

Which of the following is not true of the enforcement procedure regarding FLSA?

• A)The FLSA is enforced by the Department of Labor (DOL).
• B)The Wage and Hour Division of the DOL performs inspections and investigations and issues rules and regulations.
• C)The Secretary may also seek injunctions against violations of the act.
• D)Criminal proceedings for willful violations may be instituted by the Department of Labor.

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Definitions:

IFRS

International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB) for the preparation of public company financial statements globally.

Losses Disclosure

The requirement for companies to provide detailed reports of financial losses within their financial statements, enhancing transparency.

Reasonably Possible

Refers to a situation or outcome that is within the realm of likelihood, though not certain, based on current knowledge and circumstances.

Probable Loss

An anticipated financial loss that has a greater than 50% chance of occurring, often recognized in financial statements in accordance with accounting principles.