Orion Is a Business Software Firm Based in Atlanta That

question 86

Multiple Choice

Orion is a business software firm based in Atlanta that employs over 400 people. Orion has traditionally provided legislatively required benefits for its employees including Social Security, workers' compensation, and unemployment insurance. In addition, Orion offers employees health and dental insurance. Orion employees work Monday through Friday on a 9 to 5 schedule. Orion's top executives are considering the idea of adding a flexible benefits plan and implementing a flexible work schedule. Which of the following, if true, undermines the argument that Orion should offer its employees a cafeteria plan?

• A)A survey of Orion employees indicates that the majority of employees are very satisfied with the firm's current benefit offerings.
• B)Orion experiences very few workers' compensation claims each year as compared to similarly sized businesses in the Atlanta area.
• C)Orion employee surveys indicate that most employees are interested in either 401(k)plans or Roth IRAs as methods of saving for retirement.
• D)Orion uses an employee leasing firm to handle recruiting, hiring, and benefits administration.

Analyze the impact of omitted adjusting entries on financial statements.

Prepare adjusted trial balances and understand their role in the preparation of financial statements.

Calculate and journalize entries for payroll and related adjustments.

Understand the treatment of unearned and accrued revenues in the accounting cycle.

---

Definitions:

Order Cycle Time

The total time that elapses from the moment a customer places an order until they receive their purchase.

Cycle Time Length

The total time from the beginning to the end of your process, as defined by you and your customer. It measures the time taken to complete a single process cycle effectively.

Activity-Based Costing

A costing method that identifies activities in an organization and assigns the cost of each activity to all products and services according to the actual consumption by each.

Profitability

An indicator of a business's ability to generate earnings compared to its expenses and other relevant costs incurred during a specific period of time.