Nonexempt Employees Who Are Covered by Overtime and Reporting Provisions

question 70

Multiple Choice

Nonexempt employees who are covered by overtime and reporting provisions of the Fair Labor Standards Act are paid _________.

• A) salaries
• B) wages
• C) regardless of hours worked
• D) Both B and C are correct.

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Definitions:

Corporations

Legal entities established under corporate law that are distinct from their owners and shareholders, having rights and responsibilities and capable of conducting business.

Human Capital

The skills, knowledge, and experience possessed by an individual or population, viewed in terms of their value or cost to an organization or country.

Inventory Investment

The change in the total value of unsold goods and materials held by businesses over a specific period.

GDP

Gross Domestic Product; the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period.