1- The insurance program designed to provide medical treatment and temporary payments to employees who cannot work because of an employment-related injury or illness is:

A. Unemployment insurance

B. Portability option

C. Social Security disability

D. Government disability insurance

E. Workers’ compensation

2- In an HMO, the patient pays a _________ each time he or she visits.

A. prepayment

B. copayment

C. referral

D. reverse insurance

E. facility payment

3- The employer and employee each pay a tax of about _____ percent of the employee’s paycheck into Social Security for OASDI only?

A. 7.9%

B. 5%

C. 10.3%

D. 6.2%

E. 12.4%

4- What type of insurance account allows the employer and employee to fund a medical savings account from which the employee can pay medical expenses in pretax dollars?

A. OPE

B. HSA

C. EME

D. GEN

E. MEP

5- ____________________ are a tool that will allow us to provide greater rewards to the best people in the organization.

A. Incentives

B. Variables

C. Compensators

D. Motivators

Bang Corporation provides two-weeks of vacations to its employees, which can be carried over for 1-year if not taken in the year that they were earned.  Bang employees earn an average of $1,200 per week, and at the end of 2018 employees had earned 300 weeks of vacation that were vested but had not been taken. Assume that wage rates for employees had risen by 2% by the time this vacation was taken in 2019 and that total wages earned in 2019 (including vacation pay) were $24.5 million.  

Prepare a journal entry that summarizes 2019 wages and the payment for 2018 vacations taken in 2019.

True/False, please indicate your answer on the blank answer key provided.

13.      The EU Accounting Regulation requires that all European companies whose securities trade in a regulated securities market must use IFRS as adopted by the EU in their consolidated financials.

14.       Less than100 jurisdictions currently require IFRS for all or most domestic listed companies.

15.       A contingent liability is not recognized in the statement of financial position.

16.       IFRS provides the financial information for public capital markets covering over half of the world’s GDP.

17.       The members of the IASB serve as representatives of the individual accounting standards-setting boards from their home countries.

18.       Under IFRS, all borrowing costs are charged to expense when incurred.

19.       Under IFRS, a company must disclose information about its relationships and transactions with related parties and about compensation of key management personnel.

20.       Under IFRS, the objective of financial reporting is to provide financial information about a company that is useful to existing and potential investors, lenders and other creditors in making decisions about providing resources to the company.

21.       The Conceptual Framework specifies the form and content of the financial statements that a company must present in conformity with IFRS.

22.       Under IFRS, if a non-current asset is held for sale, it must be written down to recoverable amount (fair value less costs to sell), and depreciation stops.

The accountant for Runner Holdings Ltd. has prepared the following table in order to explain to the company’s board of directors the transactions that caused various investment accounts to increase and decrease during the past year. The company uses the fair value through profit or loss model for all held for trading investments, the equity method for investments in associates, and the cost method for equity investments that are not traded actively and have no determinable fair value.

Although each of the amounts in the above table is correct, in determining the balance at the end of the year, the accountant may have included amounts that should not be included and may have added rather than subtracted (or vice versa) amounts.

Prepare a revised table and calculate the correct year-end balances in the three investment accounts. (If an amount reduces the account balance then enter with negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

Prepare a table showing the amounts that would be reported on the income statement. (If an amount reduces the account balance then enter with negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

Kevin is looking to invest his money in a local investment company called Robin Hood financial services. To ensure his investment is safe and has good returns, he randomly surveys people who invested with the company and asks whether they would recommend the company for investment. Of the 474 people surveyed, 277 recommend Robin Hood financial services for investment.

Using this data, Kevin wants to estimate the actual proportion of people who recommend Robin Hood financial services for investment.

What is the estimated standard error of the sample proportion used to calculate a 90% confidence interval? Give your answer to 4 decimal places.

Fast Pizza hires college students who drive their own cars to deliver pizzas to customers. Fast Pizza is concerned that the company may be liable for damages caused by company employees while they are driving their cars on company business.

Part 1: Discuss the loss exposures to both Fast Pizza’s business operation and to the students who are driving their own cars to deliver pizzas.

Part 2: Identify a commercial auto liability coverage that Fast Pizza could purchase to address their exposures.

Part 3: Discuss how the coverage purchased in Part 2 could impact the student drivers.  Use a loss scenario to illustrate.

YOU ARE A STAFF ACCOUNTANT AUDITING A “PRIVATE COMPANY” AND FIND A MISREPRESENTATION DURING REVENUE RECOGNITION TESTING. WHO IS THE FIRST PERSON YOU SHOULD INFORM ABOUT YOUR FINDING. WHO ARE THE OTHER PARTIES YOU WILL INFORM ABOUT THE MISREPRESENTATION IF THE FIRST PARTY DOES NOTHING ABOUT THE MISREPRESENTATION.

A person in power has the authority and control over the people at departmental, group or the whole organization. In my previous job, I worked as an office secretary. The chain of command was from the Chief executive officer to other managers. However, in my case, the head of the department had the authority to delegate duties and make prompt follow up over us.   One notable concern while working as an office secretary was the departmental politics and the politics between the technical manager and operations manager. Ideally, an impact in the behavior evident with this coercive power type (Fleming, & Spicer, 2014). The clash between duties between the technical manager and operations manager was often. The conflict between the two leaders was based on power superiority. Each leader was superior to the other. An impact was felt in the organization as each leader had his group to work with leading to conflicts when delegating duties. From my perspective, the power conflict was destructive as there was the division between groups of people. It led to a feeling among some employees who believed to control crucial tasks within the organization. The feeling of superiority among departments was created.

In responding to the above post, respectfully comment on the conflicts they have described. Do you agree with their assessment of the constructive or destructive nature of the conflict? Why or why not? Encourage further elaboration by asking questions, offering alternative viewpoints, and/or including additional research that you have obtained from the internet.