The Key Consideration in Determining Whether an Employment Manual Creates

question 16

True/False

The key consideration in determining whether an employment manual creates an implied contract is the reasonable expectation of the employer.

---

Definitions:

Adjusting Entry

An accounting record entry made at the conclusion of an accounting period to assign income and expenses to the period they genuinely happened.

Revenue Account

An account that tracks the income earned from normal business operations, including sales of goods or services.

Income Statement

A financial document that shows a company's revenues, expenses, and net profit or loss over a specific period of time.

Balance Sheet

An official record presenting the total assets, liabilities, and net worth of shareholders of a firm at a fixed point in time.