Which of the Following Statements Is NOT True About the Family

question 46

Multiple Choice

Which of the following statements is NOT true about the Family and Medical Leave Act?

• A) It enables qualified employees to take prolonged unpaid leave for family- and health-related reasons.
• B) Employees can use this leave in the event of the birth, adoption, or placement for foster care of a child.
• C) To qualify for a leave under this act, employees must have been employed for at least two years.
• D) Employees must have worked for no less than 1,250 hours within the previous 12-month period to be entitled for a leave.

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Definitions:

Closing Entries

A set of journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent accounts.

Revenue Account

An account that tracks the income earned by a company, including sales revenue, services revenue, and interest income.

Adjusted Balances

Balances reported in financial statements that have been modified for any adjustments, like accruals or prepayments, to reflect true values.

Income Statement

A financial statement that reports a company's financial performance over a specific accounting period, detailing revenues, expenses, and net income or loss.