Mary Started Her Dot

question 99

Multiple Choice

Mary started her dot.com business in 2005.Recently,she hired Jackie as VP of Sales and Marketing.As part of company policy,management was to give a blood test for verification of AIDS or any drug abuse.When the results came back,Mary found out that Jackie had AIDS.She was fired because the company does not tolerate having employees with AIDS.

• A)Mary had the right to fire Jackie because it is her company and she can do whatever she wants.
• B)Mary should have consulted with an attorney to find a reason for firing Jackie.
• C)Mary is in violation of discrimination laws.
• D)Mary should have requested a blood test from everyone on a quarterly basis.

Comprehend the significance of different types of financial analysis (horizontal, vertical) and comparisons.

Understand the regulatory environment and its impact on financial reporting, including SEC requirements.

Grasp the importance of liquidity, solvency, and profitability ratios in evaluating a company's financial position.

Recognize the applications and benefits of using Extensible Business Reporting Language (XBRL) in financial reporting.

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Definitions:

Income Taxes

Taxes imposed by governments on the income generated by businesses and individuals within their jurisdiction.

Income Tax Expense

The total amount of income tax a company is obligated to pay to the government, reported as an expense in the income statement.

Income Tax Rate

The percentage at which an individual or corporation is taxed on their income, which can vary based on income level, jurisdiction, and other factors.

After-Tax Discount Rate

A discount rate that has been adjusted for the effect of taxes, utilized in evaluating the net present value (NPV) of an investment after taxes.