The Employee Retirement Income Security Act passed in 1974 requires firms to provide a retirement plan for their employees.
Indicate whether the statement is true or false
Question 2 - Which of the following is a difference between a C corporation and an S corporation?
A) The members of a C corporation have unlimited liability, whereas the members of an S corporation enjoy limited liability.
B) The members of a C corporation have limited liability, whereas the members of an S corporation have unlimited liability.
C) A C corporation is double taxed, whereas an S corporation is taxed as a partnership.
D) A C corporation is taxed as a partnership, whereas an S corporation is double taxed.
Question 3 - B&G, Inc
A year ago, Kevin went to work for B&G, Inc He has worked for the finance department ever since he started. He noticed that the corporation was only taxed as though it were a partnership. This was something that he found very odd when he first started working for the company, but he later realized it was a fairly common practice. He recognized that this was one of the advantages of this type of corporation.
While the job was challenging, Kevin was not happy. He wanted to work for a company whose main goal was to provide service to the community, not to make a profit. However, Kevin felt that, considering his present financial situation, he had to continue working for B&G, Inc A week later, Kevin discovered there was going to be a merger between B&G, Inc and one of its major competitors. Kevin's boss informed him that he would be getting a promotion and a raise. While he was excited about making more money, he still was not happy. He knew then that he would not be working for the company for long.
Refer to B&G, Inc B&G, Inc was going through a ____ merger.
A) vertical
B) horizontal
C) conglomerate
D) hostile
E) leveraged
Question 4 - Describe the three activities of a statement of cash flows. Where does each section fall on the statement and what does it account for?
Question 5 - The need to enforce the Occupational Safety and Health Act of 1970 led to the creation of OSHA.
Indicate whether the statement is true or false
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