The Fair Labor Standards Act (FLSA)establishes a Minimum Wage for All

question 22

True/False

The Fair Labor Standards Act (FLSA)establishes a minimum wage for all workers, except workers on small farms and administrative employees.

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Definitions:

Agency Relationship

A legal arrangement where one party, the agent, acts on behalf of another, the principal, in engaging with third parties.

Mutual Agreement

A consent or accord reached by two or more parties, typically forming the basis for a contractual relationship.

Principal

The primary party to a transaction, such as a loan or investment, who has rights and obligations different from an agent or a trustee.

Agent

An individual or entity authorized to act on behalf of another person or organization in legal or business matters.