Which of the Following Is True of the Fair Labor

question 29

Multiple Choice

Which of the following is true of the Fair Labor Standards Act (FLSA) ?

• A) The overtime rate under the FLSA is two and a half times the employee's hourly rate.
• B) It requires federal contractors to pay less than the prevailing wage rate.
• C) It permits a subminimum training wage equal to 95% of the minimum wage.
• D) Nonexempt employees are covered by FLSA and include most hourly workers.
• E) Under the FLSA, executive, professional, and administrative employees are considered nonexempt employees.

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Definitions:

Intangible Asset

An asset that is not physical in nature, such as patents, trademarks, and goodwill, which has value due to its potential to generate economic benefits.

Identifiable

Capable of being recognized and distinguished from others, often used in accounting and finance to describe assets that can be attributed to a particular entity.

Cash Flows

The inflows and outflows of cash and cash equivalents, representing the operating, investing, and financing activities of a business.

Operating Activities

Transactions and events related to the primary activities of a business, such as selling products or services, that affect the operational cash flow.