Tim Works for University Food Service,Inc

question 50

Multiple Choice

Tim works for University Food Service,Inc.The employer's discharge of Tim outside the terms of an oral employment contract may result in

• A)the employer's liability for breach of contract.
• B)the employee's ineligibility for unemployment compensation.
• C)the imposition of an express employment contract on the employer.
• D)none of the choices.

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Definitions:

Income Statement

A financial statement that shows a company's revenue and expenses over a specific period, resulting in net profit or loss.

Unrealized Loss

A loss that results from holding onto an asset that has decreased in price, not realized until the asset is sold for a lower price.

Outstanding Voting Shares

The number of shares that are currently held by shareholders that grant them the right to vote on company matters.

Cash Dividend

Cash distributed by a business to its owners from the earnings it has generated.