The "Greater Hazard" Defense Is Allowed by OSHA If the Employer

question 31

Multiple Choice

The "greater hazard" defense is allowed by OSHA if the employer can show
I. A variance from the secretary of labor is unavailable.
II. Alternative means of protection are unavailable.
III. The employees refuse adhere to OSHA's restrictions.
IV. The hazards of compliance with the standard are greater than the hazards of noncompliance.

• A) I and II.
• B) II and III.
• C) I, II, and III.
• D) I, II, and IV.

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Definitions:

First-In, First-Out

An inventory valuation method where the goods first purchased or produced are also the first to be sold, impacting the cost of goods sold and inventory value.

Average Cost

A calculation used in finance and economics that divides the total cost of production by the number of goods produced, yielding the cost per unit.

Perpetual Inventory System

An accounting method that records inventory updates continuously as sales and purchases occur.

FIFO

"First In, First Out," an inventory valuation method where goods first added to inventory are the first sold, used to determine the cost of goods sold and remaining inventory.