Under the Duties Test,in Order to Be Classified as Exempt,an

question 17

Multiple Choice

Under the duties test,in order to be classified as exempt,an employee:

• A)must perform the duties of an executive, administrator, or professional
• B)must work in an office setting
• C)must have a job title that includes the word executive, administrator, or professional in the title
• D)all of the above

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Definitions:

Planning Budget

A budget prepared for a future period that outlines expected revenues, expenses, and other financial activities to guide decision-making.

Equipment Depreciation

This refers to the accounting process of allocating the cost of physical assets over their useful lives to account for the loss in value.

Spending Variance

The difference between the actual expenditure and the budgeted amount.

Machine-Hours

A measure used to allocate manufacturing overhead costs to products based on the number of hours machines are used in the production process.