Linda Is the Owner of Los Angeles-Based Leather Manufacturing Company

question 59

Multiple Choice

Linda is the owner of Los Angeles-based leather manufacturing company. Almost 500 employees were working in that unit. Employees were not paid proper wages and overtime pay for extra time worked beyond their normal working hours. Who is authorized to file suit on behalf of employees seeking to collect wages and overtime?

• A)The National Labor Relations Board
• B)The Employment Security Commission
• C)The Administrative Law Judge
• D)The Secretary of Labor

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Definitions:

Acquisition Differential

The variance between the purchase price of an acquisition and the fair value of the net assets that are distinctly recognized.

Purchase Price

The amount paid or to be paid by a buyer to acquire an asset or service from a seller, not including incidental costs.

Goodwill

The intangible asset that arises when a business is acquired for more than the fair value of its net assets.

IFRS 10

Refers to the International Financial Reporting Standard that provides guidance on the consolidation of all entities that an investor controls, defining the principles of control and how it should be assessed.