Accounting 117 Chapter 1

Topics: Employment, Unemployment, Minimum wage Pages: 2 (504 words) Published: March 25, 2014
Nimo Lorenzo
ACCTG 117 Payroll Accounting Management
Monday Morning Class
02/04/2014

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Questions for Review
1. The Department of Labor enforces the Fair Labor Act which sets the basic federal minimum wage at $ 7.25 per hour and for the state of California’s minimum wage is $ 8.00 per hour. 2. The information that needs to be maintained by FLSA concerning employees’ wages earned is data about hours worked. 3. An employer pays half of it and employees pays for the other half. If a person is self-employed, you get to pay both halves. 4. The taxes paid to the Federal government (FUTA tax) are used to pay the state and federal and administrative expenses incurred in operating the overall unemployment insurance program. The taxes paid to the various state governments (SUTA) are used to pay the unemployment compensation benefits to qualified unemployed workers 5. The act, as amended, forbids employers to discriminate in hiring, firing, promoting, compensation, or any other condition of employment on the basis of race, color, religion, gender, or national origin. 6. Protects individuals who are 50 years of age or older from employment discrimination based on age. 7. Yes, A key exception is executives who are 65 or older and who have held high policy-making positions during the two-year period prior to retirement. If such an employee is entitled to an annual retirement benefit from the employer of at least $44,000, the employee can be forcibly retired. 8. The Act covers employees who produce, assemble, handle, or ship goods under these contracts. 9. The Act established the process for setting occupational safety and health exposure standards, authorized OSHA to inspect private business for compliance and to issue the review Omission before going to he courts. 10. 12 weeks

11. The legislation safeguards pension funds by regulating how the funds are to be raised and disbursed, who controls...
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