A corporation reported the following information at December 31, 2015:
Definitions:
Implied Contract
An unwritten agreement created through the actions, behavior, or circumstances of the parties involved, rather than explicit words.
Code of Conduct
A set of rules outlining the social norms, responsibilities, and proper practices for an individual or organization.
Discriminatory Wages
Wages that are set based on biased or unjust grounds, often resulting in unequal pay for employees who perform similar tasks.
Loophole
An ambiguity or inadequacy in the law or a set of rules that allows one to circumvent or avoid its intent.
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