The new minimum wage may mean higher prices for consumers as companies pay for higher payroll costs.
Source: CNNMoney â€“ video report
Keys: Budgeting, cash flow, expenses, working capital
Questions for discussion:
- How might management of the food store respond to the rise in the minimum wage? Rank your choices starting with the best one.
- As the financial manager responsible, what would you do to adjust to this increase cost to your operations?
- Which financial documents would be affected by this particular cost change?