After an employee works for an employer for a certain period of time, the employee is entitled to the money in his or her pension plan. This employee is now
A. secured.
B. endowed.
C. vested.
D. integrated.
Answer: C
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A work sheet is an alternative to T accounts to help in the preparation of a statement of cash flows
a. True b. False Indicate whether the statement is true or false
Inventory is an example of a nonmonetary asset
Indicate whether the statement is true or false
What are profit sharing programs?
A. An individual incentive plan that provides a bonus based on that employee’s profitability B. A program that provides a portion of company proceeds over a specific amount of time to the employees of the firm through a bonus payment C. An example of giving praise D. Incentives typically based on improvements in workplace safety of material savings E. Pretty much the same as a gain sharing program
In an LLC, how are profits and losses reported?
a. on individual tax returns b. on the corporation’s tax return c. on both the corporate and individual tax return d. on either the corporate or individual tax return