Which of the Following Should Be Included in an Employer's

question 4

Multiple Choice

Which of the following should be included in an employer's policy prohibiting harassment?

• A)assurance that employees reporting harassment will be protected from retaliation
• B)assurance of strict confidentiality in handling harassment complaints
• C)a clear and accessible procedure for reporting harassment
• D)a and c
• E)all of the above

Understand the IFRS treatment of increases in market value of property, plant, and equipment vs. GAAP.

Know the exceptions to the general rule of using fair value in exchange transactions under GAAP.

Distinguish between capital and operating expenditures for maintaining property, plant, and equipment.

Understand the differing objectives of financial and managerial accounting.

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Definitions:

Preexisting Duty Rule

A legal principle stating that performing a duty that one is already legally obligated to do is not sufficient consideration for a new contract.

Illusory Promise

A statement that appears to be a promise but does not actually bind the party to any commitment or obligation.

Redistribution of Wealth

A process or policy aimed at adjusting the distribution of wealth within a society, usually by transferring wealth from the richer to the poorer segments.

Consideration

Something of value exchanged between parties as part of a contract.