Fletcher Has Worked as a Regional Sales Manager for Waiyo

question 38

Multiple Choice

Fletcher has worked as a regional sales manager for Waiyo, a firm that sells espresso machines to offices and restaurants, for 8 years.Faced with falling demand and plummeting sales, the firm decided to prune its operations and concentrate on its most profitable markets.Fletcher's sales territory was not part of this and he was let go of by the management, with a modest severance package.However, his health coverage was discontinued following his termination, even though Fletcher was willing to pay for it.Which of the following Acts can Fletcher cite in his efforts to have his health coverage benefits restored?

• A) Consolidated Omnibus Budget Reconciliation Act (COBRA)
• B) Health Insurance Portability and Accountability Act (HIPAA)
• C) Occupational Safety and Health Act (OSHA)
• D) Lilly Ledbetter Fair Pay Act

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Definitions:

Perpetual Inventory System

A method of accounting for inventory that records the sale or purchase of inventory immediately through the use of computerized point-of-sale systems and enterprise asset management software.

Periodic Inventory System

An inventory accounting system that updates inventory levels and cost of goods sold at the end of an accounting period, rather than after each sale or purchase.

FIFO

"First In, First Out," an inventory valuation method where goods first received are the first to be sold or used, assuming costs rise over time.