Which of the Following Is a Consequence of Minimum Wage

question 108

Multiple Choice

Which of the following is a consequence of minimum wage laws?

• A)Low-skilled workers benefit because minimum wage increases the number of jobs providing low-skilled workers with training.
• B)Some employers will be reluctant to hire as many workers as they would without a minimum wage.
• C)Producers have an incentive to offer workers non-wage benefits such as health care benefits and convenient working hours rather than a higher wage.
• D)All workers benefit when the minimum wage is increased.

Recognize the procedures and implications of recording bad debt expense.

Understand the principle of revenue recognition and its application to FOB shipping and destination.

Analyze and calculate cash flows from customer transactions.

Understand the impact of credit card sales and discounts on financial statements.

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Definitions:

Revenue

The total amount of income generated by the sale of goods or services related to a company's primary operations.

MIRR

Modified Internal Rate of Return, a financial metric that addresses some of the limitations of the traditional internal rate of return by taking into account different financing and reinvestment rates.

Mutually Exclusive

Conditions or options that cannot occur or be chosen at the same time, requiring a choice to be made between them.

Internal Rate

Often refers to the internal rate of return (IRR), a metric used in capital budgeting to estimate the profitability of investments.