Popson Inc

question 85

Multiple Choice

Popson Inc.incurred a material loss which was not unusual in character,but was clearly an infrequent occurrence.This loss should be reported as:

• A)An extraordinary loss.
• B)A loss from discontinued operations.
• C)Other revenues and expenses.
• D)A separate line item in retained earnings.

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Definitions:

Equal Pay

The legal or ethical principle requiring that employees be paid the same wage for similar work regardless of gender, age, ethnicity, or other non-performance related factors.

Comparable Worth

The principle of equal pay for work of equal value, regardless of the gender or status of the worker.

Federal Employment Discrimination Laws

Laws that protect employees from discrimination in the workplace based on race, color, religion, sex, national origin, age, disability, or genetic information.

Closed Shop

A workplace arrangement where only employees who are union members are hired, often found in collective bargaining agreements.