The Fair Labor Standards Act provides which of the following ...

[nummyann]

The Fair Labor Standards Act provides which of the following minimum rates to be paid to employees for all hours worked over 40 hours per week?
 a. one and one-half times the regular rate
   b. same rate as the regular rate
   c. two and one-half times the regular rate
   d. two times the regular rate

Question 2

Explain the cost principle.
 
  What will be an ideal response?

[triiciiaa]

Answer to Question 1

a

Answer to Question 2

The cost principle is a rule requiring that purchased assets be recorded in the accounting records at cost, which includes all costs reasonable and necessary to place the asset into working condition.