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D102 - Unit 9 WGU exam(48 questions and answers)
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D102 - Unit 9 WGU exam(48 questions and answers)
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D102 - Unit 9WGU exam(48
questions and
answers)
Social Security (FICA) Taxes
Federal Insurance Contributions Act taxes
imposed on the employee and the employer;
used mainly to provide retirement benefits
Bonus
Additional compensation beyond the regular
compensation that is paid to employees if
certain objectives are achieved.
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In the journal entry to record salary
payments to employees, why is the amount
of Salary Expense not equal to the amount of
Salaries Payable?
Because of property taxes
Because of payroll taxes
Because of sales taxes
Because of company income taxes
Because of payroll taxes
Why do companies sometimes pay managers
with a combination of a fixed salary plus an
earnings-based bonus rather than just pay a
higher fixed salary?
The earnings-based bonus plan causes the
managers to work harder to increase the net
income of the company.
The earnings-based bonus plan is a way to
reduce the amount of annual interest
, payments to banks.
The earnings-based bonus plan is a way for
shareholders to receive extra cash dividends
from the company.
The earnings-based bonus plan reduces the
amount of property taxes that the company
must pay.
The earnings-based bonus plan causes the
managers to work harder to increase the net
income of the company.
In an accounting context, what is a
contingency?
An amount received in advance from a
customer to help pay for the construction of
a specially ordered item
A loss or a gain on the sale of an item of
property, plant, or equipment
A bank loan that a company has arranged in
advance, but which has not yet been taken
An uncertain circumstance that will not be
resolved until a future event occurs
An uncertain circumstance that will not be
resolved until a future event occurs
During Year 1, it is claimed that Synesthor
Company's operations caused some damage
to the air and water in its community. This
claim is currently under government
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