The Duty of an Employer to Ensure the Safety of Employees

question 43

Multiple Choice

The duty of an employer to ensure the safety of employees applies to:

• A)All their employees during working hours no matter where they are or what they are doing.
• B)Premises which are owned by the employer.
• C)Any situation unless the employer has taken all necessary steps to eliminate risk.
• D)Premises which are regularly used by employees whether owned by the employer or not.

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Definitions:

Fiscal Year

A twelve-month period used for accounting and financial reporting purposes, which may or may not align with the calendar year.

Effective Interest Rate Method

A method of amortizing the discount or premium on bonds payable that reflects the constant rate of interest over the life of the bond.

Amortization Schedule

An Amortization Schedule is a table detailing each periodic payment on an amortizing loan, including the amount of principal and the amount of interest that comprises each payment until the loan is paid off at the end of its term.

Bond Carrying Amount

The net value of a bond on a balance sheet, which may differ from its face value due to amortization or market changes.