Which of the Following Is True of the Fair Labor

question 53

Multiple Choice

Which of the following is true of the Fair Labor Standards Act (FLSA) ?

• A)It requires exempt employees to be paid time and a half for hours in excess of 40 per week.
• B)It has led to Americans working fewer hours now as compared to earlier times due to a rise in benefits.
• C)It is more likely to cause employers to classify workers as independent contractors than employees.
• D)It has led to part-time employees being more likely to receive benefits than full-time employees.
• E)It increases the employer's obligation to provide legally required employee benefits.

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Definitions:

Direct Materials

Raw materials that can be directly traced to the production of finished goods.

Fixed Costs

Expenses that do not change in total despite fluctuations in production levels or sales volume.

Income Statement

A financial statement that shows a company's revenues, expenses, and profitability over a specified period of time, providing insight into its financial performance.

Absorption Costing

An accounting method where all manufacturing costs, including both fixed and variable costs, are allocated to produced units.