Which of the following statements regarding payroll liabilities is true? A. Accrued payroll includes such Federal...

Which of the following statements regarding payroll liabilities is true?

A.	Accrued payroll includes such Federal Income Tax withholdings that are not yet paid.

B.	Only employees are required to pay FICA taxes.

C.	Both employers and employees are required to pay unemployment taxes.

D.	Accrued payroll liabilities do not include any voluntary deductions by employees for charitable contributions or union dues.

Solutions

Expert Solution

Answer :

D.	Accrued payroll liabilities do not include any voluntary deductions by employees for charitable contributions or union dues.

Payroll liabilities includes what is actually due to employee in gross and dont include any deduction which employee himself has voluntarily instructed to deduct like charitable deductions

ekkarill92 answered 1 year ago

Next > < Previous

Related Solutions

Which of the following statements about payroll taxes is true? A : Federal and state unemployment...

Which of the following statements about payroll taxes is true? A : Federal and state unemployment taxes are paid by employers to the taxing authority and are recorded as salaries and wages expense. B : Federal and state unemployment taxes are paid by employers to the taxing authority and are recorded as payroll tax expenses. C : Federal and state unemployment taxes are paid by employers to employees at the time they leave the company and are recorded as salaries...

Which of the following statements are true regarding sponges?

QUESTION 3 Which of the following statements are true regarding sponges? Sponges live in marine or freshwater environments. All sponges are photosynthetic. Adult sponges are non-motile Sponges do not have true tissues. QUESTION 4 Which of the following statements are true regarding arthropods. Similar to the earthworm, an arthropod has a body composed of repeated segments Arthropods have an exoskeleton Arthropods have a coelom Arachnids, crustaceans and insects are all arthropodsQUESTION 5 What are the four basic types of tissues found in animals? tracheid muscle tissue connective tissue epithelial tissue mesophyll nerve tissue

Which of the following is true regarding the ballance sheet of a federal agency? A). The...

Which of the following is true regarding the ballance sheet of a federal agency? A). The balance sheet as prepared using the economic resource measurement focus and accrual accounting B). Typically the first item listed among us that is “fund” balance with treasury C). All of the above choices are true D). None of the above choices is true

Which of the following statements regarding critical paths is true?

Which of the following statements regarding critical paths is true? A. On a specific project, there can be multiple critical paths, all with exactly the same duration. B. The duration of the critical path is the average duration of all paths in the project network. C. Every network has only one critical path. D. Some activities on the critical path may have slack. E. The shortest of all paths through the network is the critical path.

Which of the following is true regarding the quick ratio Includes inventory in current assets A...

Which of the following is true regarding the quick ratio Includes inventory in current assets A lower ratio means greater liquidity The quick ratio should be lower than the current ratio if a firm holds positive levels of inventory All are true None of the above

Which of the following statements are true regarding chemical reactions? T = true and F =...

Which of the following statements are true regarding chemical reactions? T = true and F = false. A) the more negative the ΔG, the further towards completion the reaction will proceed before equilibrium is reached. B) only a system not at equilibrium can perform work. C) for most biochemical reactions in a metabolic pathway, equilibrium is rarely reached. D) in a closed system, a chemical reaction will proceed spontaneously until the reactants and products are in equal concentration.

Which of the following statements is TRUE regarding CAPM? A) This is a model for relating...

Which of the following statements is TRUE regarding CAPM? A) This is a model for relating unsystematic risk to the expected return on a risky asset B) Ceteris paribus, stocks with higher betas should have lower prices. C) The beta for the market is always zero. D) Stocks with higher market risk should have lower expected or required rates of return. Albert purchased Southern Industries stock for $40 per share and sold it one and one half years later for...

3. Which of the following statements regarding liquidity and profitability is not true? a. If a...

3. Which of the following statements regarding liquidity and profitability is not true? a. If a business is unable to pay its debts as they come due, it is operating unprofitably b. In order to survive in the long run, a business must both remain liquid and operate profitably c. A business may operate profitably, yet be unable to meet its obligations d. A business may be liquid, yet operate unprofitably for several years

Which of the following statements is true about liabilities? a.Liabilities are the debt owed by a...

Which of the following statements is true about liabilities? a.Liabilities are the debt owed by a company. b.Liabilities equal assets plus stockholders' equity. c.Liabilities include insurance premium paid in advance. d.Liabilities arise when a company sells goods on account.

Which of the following statements are true regarding municipalbonds?I) A municipal bond is a...

Which of the following statements are true regarding municipal bonds?I) A municipal bond is a debt obligation issued by state or local governments.II) A municipal bond is a debt obligation issued by the federal government.III) The interest income from a municipal bond is exempt from federal income taxation.IV) The interest income from a municipal bond is exempt from state and local taxationin the issuing state.A) I, II, and III onlyB) I, III, and IV onlyC) I and IV onlyD) I...

Subjects