Question

Should a company be allowed to require that employees receive payment through direct deposit?

Should a company be allowed to require that employees receive payment through direct deposit?

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

According to an estimate, around 82% of employees working in the US are already being paid by direct deposit. There are advantages of this method so that it should be made mandatory

It saves time which is used in preparation of checks. Paper costs are reduced. Employees are not required to clear their checks so that there are realizing savings in absenteeism. Employees can allow their funds directly to go to a retirement savings plan. Otherwise it can be directed to a savings account as soon as a direct deposit is made. Hence a company should be allowed to require that employees receive payment through direct deposit.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Should the members (owners) of an LLC also be allowed to serve as employees of the...
Should the members (owners) of an LLC also be allowed to serve as employees of the LLC and receive a salary? Why or why not?
Do you think children should or should not be allowed to receive adult organs if they...
Do you think children should or should not be allowed to receive adult organs if they are compatible? Why, or why not?
hree employees of the Horizon Distributing Company will receive annual pension payments from the company when...
hree employees of the Horizon Distributing Company will receive annual pension payments from the company when they retire. The employees will receive their annual payments for as long as they live. Life expectancy for each employee is 15 years beyond retirement. Their names, the amount of their annual pension payments, and the date they will receive their first payment are shown below: (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of...
Consider a U.S.-based company that exports goods to England. The U.S. Company expects to receive payment...
Consider a U.S.-based company that exports goods to England. The U.S. Company expects to receive payment on a shipment of goods in three months. Because the payment will be in British pound, the U.S. Company wants to hedge against a decline in the value of the British pound over the next three months. The U.S. risk-free rate is 2.32 percent, and the British risk-free rate is 0.72 percent. Assume that interest rates are expected to remain fixed over the next...
Betty Kay has a contract in which she will receive the following payment for the next...
Betty Kay has a contract in which she will receive the following payment for the next 5 year: $1,000, $2,000, $3,000, $4,000 and $5,000. She will then receive an annuity of $8,500 a year for the end of the 6th through the end of the 15th year. She is offered $30,000 to cancel the contract. If the payments are discounted at 14 percent should she cancel the contract? Show all workings. Please work using the Financial Calculator
Betty Kay has a contract under which she will receive the following payment for the next...
Betty Kay has a contract under which she will receive the following payment for the next 5 years: $1,000, $2,000, $3,000, $4,000 and $5,000. She will then receive an annuity of $8,500 a year for the end of the 6th through the end of the 15th year. She is offered $30,000 to cancel the contract. If the payments are discounted at 14 percent should she cancel the contract? Show all workings
Golden Marine Stores Company manufactures special metallic materials and decorative fittings for luxury yachts that require...
Golden Marine Stores Company manufactures special metallic materials and decorative fittings for luxury yachts that require highly skilled labor. Golden uses standard costs to prepare its flexible budget. For the first quarter of the​ year, direct materials and direct labor standards for one of their popular products were as​ follows: Direct​ materials: 3 pounds per​ unit; $3 per pound ​Labor: 4 hours per​ unit; $24 per hour During the first​ quarter, Golden produced​ 5,000 units of this product. At the...
It takes Cookie Cutter Modular Homes, Inc., about six days to receive and deposit checks from...
It takes Cookie Cutter Modular Homes, Inc., about six days to receive and deposit checks from customers. The company’s management is considering a lockbox system to reduce the firm’s collection times. It is expected that the lockbox system will reduce receipt and deposit times to three days total. Average daily collections are $135,000, and the required rate of return is 6 percent per year. Assume 365 days per year. a. What is the reduction in outstanding cash balances as a...
You are the risk manager for your company. In three months it will receive a payment...
You are the risk manager for your company. In three months it will receive a payment of A$50 million. The three month forward rate is AUDUSD 0.9015. a. In your opinion, should you hedge Australian $ revenue (that is, lock in your US dollar inflow today using the forward price)? b. Suppose you do decide to hedge the exposure. What is your hedged USD revenue? c. Suppose the actual exchange rate turns out to be AUDUSD 0.9259. Did you have...
Employees from Company A and Company B both receive annual bonuses. What information would you need...
Employees from Company A and Company B both receive annual bonuses. What information would you need to test the claim that the difference in annual bonuses is greater than $100 at the 0.05 level of significance? Write out the hypothesis and explain the testing procedure
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT