The Merchant Marine (Jones)Act (1936)

question 54

Multiple Choice

The Merchant Marine (Jones) Act (1936) :

• A)provides remedies for injured sailors.
• B)provides modest pensions to retired workers.
• C)sets the terms and conditions of employment to be provided by government contractors.
• D)sets minimum wages, mandates overtime pay, and regulates child labor.

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Definitions:

Bonds

Debt instruments signifying an investment made by an investor in the form of a loan to either a corporation or a government entity.

Journal Entries

Records of financial transactions in the books of accounts, acting as the primary source for all accounting processes.

Available-for-Sale Securities

Financial assets that are not classified as held-to-maturity or trading securities, and can be sold in the short-term.

Market Adjustment

Market adjustment is the process of modifying the value of an asset or inventory to reflect its current market value rather than its book value, often due to changes in demand, supply, or economic conditions.