Which of the Following Statements Is Incorrect

question 34

Multiple Choice

Which of the following statements is incorrect?

• A)The normal balance of accounts receivable is a debit.
• B)The normal balance of dividends is a debit.
• C)The normal balance of unearned revenues is a credit.
• D)The normal balance of an expense account is a credit.
• E)The normal balance of common stock is a credit.

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Definitions:

Fair Labor Standards Act

U.S. federal law that establishes minimum wage, overtime pay eligibility, recordkeeping, and child labor standards affecting employees in the private sector and in Federal, State, and local governments.

Time-and-a-Half Rate

A pay rate that is 1.5 times the employee's standard hourly rate, often applied to overtime work.

Hours Per Week

A measurement of the amount of time an individual spends on work or other scheduled activities over the course of a week.

Title VII Suit

A Title VII Suit refers to a legal action brought under Title VII of the Civil Rights Act of 1964, which prohibits employment discrimination based on race, color, religion, sex, or national origin.