Matching -An Example of a White-Collar Exemption to the FLSA

question 12

Multiple Choice

Matching
-An example of a white-collar exemption to the FLSA.

• A)tipped employee
• B)Department of Labor
• C)Belo contract
• D)Equal Pay Act
• E)regular pay rate
• F)total exemptions
• G)opportunity wage
• H)compensatory time
• I)executive
• J)red circle rate

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Definitions:

Voucher

A special form for recording relevant data about a liability and the details of its payment.

Cash Payment

is the act of settling a transaction or discharging a debt by using physical currency or through a digital medium representing immediate value.

Internal Control Objectives

The goals aimed at ensuring the reliability of financial reporting, compliance with laws and regulations, and effectiveness of operations.

Financial Reports

Documents that provide an overview of a company's financial condition, including balance sheets, income statements, and statements of cash flows.