FAIR LABOR STANDARDS ACT Definition

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FAIR LABOR STANDARDS ACT is a U.S. federal law that enforces a group of minimum standards that employers must abide by when hiring employees.

Learn new Accounting Terms

DIRECT LABOR BUDGET is a budget of planned expenditures for direct labor. The direct labor budget indicates the rate per hour and the number of hours necessary to meet production requirements. See OPERATING BUDGET.

RISK ANALYSIS is an analysis of the possibility of suffering loss.

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