Which of the Following Categories of Individuals Are Exempt from the Minimum

question 26

Multiple Choice

Which of the following categories of individuals are exempt from the minimum wage provisions of Fair Labor Standards Act (FLSA) ?

• A) executives
• B) factory workers
• C) full-time babysitters
• D) housekeepers

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Definitions:

Dividends Paid

The portion of a company's earnings distributed to shareholders as a payment, typically in cash or additional shares.

Indirect Method

A way of presenting a cash flow statement where net income is adjusted for changes in balance sheet accounts to calculate cash flow from operating activities.

Direct Method

A method of preparing the cash flow statement where actual cash receipts and cash payments are reported, showing the specific sources and uses of cash.

Operating Activities

These are the primary revenue-producing activities of a business, such as selling goods and services, which are reported in the statement of cash flows.