Refer to Scenario 9

question 51

Multiple Choice

Refer to Scenario 9.8 below to answer the question(s) that follow.
SCENARIO 9.8: Investors put up $1,040,000 to construct a building and purchase all equipment for a new gourmet cupcake bakery. The investors expect to earn a minimum return of 10 per cent on their investment. The bakery is open 52 weeks per year and sells 900 cupcakes per week. The fixed costs are spread over the 52 weeks (i.e. prorated weekly) . Included in the fixed costs is the 10% return to the investors and $2,000 in other fixed costs. Variable costs include $2,000 in weekly wages, and $600 per week in materials, electricity, etc. The bakery charges $8 on average per cupcake.
-Refer to Scenario 9.8. Total variable costs per week are

Learn about the arbitration process and the binding nature of arbitrators’ decisions in resolving employment disputes.

Distinguish between different forms of employment relationships and the legal criteria used to evaluate them.

Understand the implications of vicarious liability for employers in cases of employee negligence.

Recognize the legal requirements and employment standards pertaining to notice periods and severance pay.

Definitions:

Guilty

A state of having committed a specific offense or violation, often associated with legal culpability or moral responsibility.

Altruism

The selfless concern for the well-being of others without expecting any reward.

Companionate Love

A deep, affectionate attachment characterized by mutual respect, attachment, and commitment, generally found in long-term relationships.

Social Exchange Theory

A social psychological and sociological perspective that explains social change and stability as a process of negotiated exchanges between parties.