Which of the Following Is an Appropriate Penalty Proposed for the Respective

question 51

Multiple Choice

Which of the following is an appropriate penalty proposed for the respective major violation of Occupational Safety and Health Act (OSHA) ?

• A) JK Products Inc. has failed to abate a prior violation, thus it will need to pay a civil penalty of $7,000 for each day the violation continues beyond the prescribed abatement date.
• B) Limelight Cosmetics Inc. has been charged of willful violations that will require it to pay $3,500 for each violation (mandatory).
• C) HG Inc. has been charged of serious violations, thus it will have to pay $3,500 for each violation (discretionary).
• D) Unicorn Builders Inc. has repeatedly violated an OSHA standard that will require it to pay a penalty of up to $7,000 for each such violation.

Understand the uncertainty and future projection aspects of financial statements.

Grasp the importance and limitations of financial statements in assessing a company's health and future prospects.

Recognize the role of the SEC and regulations like Reg FD in ensuring fair access to financial information.

Understand financial flexibility and the means a company has at its disposal to raise more funds.

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Definitions:

Deficiency

The shortfall amount between a debt owed and the proceeds from the sale of assets pledged to secure the debt.

Surplus

The amount of an asset or resource that exceeds the portion that is utilized.

Pennsylvania System

A penal system based on solitary confinement and rehabilitation of the prisoner.

General Contractor

A principal contractor who is responsible for the execution, completion, and day-to-day oversight of a construction project.