Don Works at the Local Gas Station and Garage

question 42

Multiple Choice

Don works at the local gas station and garage. He wants to support the general strike on May 1,in solidarity with immigrants,the working poor and students. His boss,Betsy tells him that she will fire him if he does not work on May 1. What is true?

• A) Betsy can fire Don,and Don has no legal recourse.
• B) Betsy can fire Don,but Don can recover damages against Betsy.
• C) Betsy can fire Don,unless he claims that 1 May is a religious holiday for him.
• D) Don has no recourse but to quit

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Definitions:

Closing Entries

Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent accounts, thereby preparing the books for the next period.

Adjusted Trial Balance

A list of all the accounts and their balances after adjusting entries are made, used for preparing financial statements.

Revenue Accounts

Accounts used in accounting to record the company's income from its operations or activities.

Expense Accounts

Expense accounts track the costs incurred by a business in the course of its operations, such as utilities, rent, and payroll.