Which of the following is not a true statement about Objectivism?
A. Its critics label the decision rule overly judgmental and individualistic.
B. The advancement of rational self-interest under the decision rule always and necessarily comes at the expense of the interests of others.
C. The decision rule focuses on the decision-maker developing into the best, most enlightened person the decision-maker can be.
D. The decision rule promotes free-market decision-making in business.
Ans: B. The advancement of rational self-interest under the decision rule always and necessarily comes at the expense of the interests of others.
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Under the FLSA, which of the following statements is true of child labor?
A. Children aged 18 and 19 may not be employed in hazardous occupations defined by the Department of Labor. B. Children aged 14 and 15 may not be employed in any work associated with interstate commerce. C. The FLSA's restrictions on the use of child labor apply to children younger than 18. D. Children aged 18 and 19 may work only outside school hours, in jobs defined as nonhazardous, and for limited time periods. E. All the states have laws requiring working papers or work permits for minors.
Closing entries are journalized and posted ________
A) throughout the accounting period B) before posting the adjusting entries C) after preparing the post-closing trial balance D) after preparing the financial statements