Match the following items with the appropriate designation (Current liability, Long-term liability, or Not a liability).
A) Current liability
B) Long-term liability
C) Not a liability
1. 60-day promissory note
2. Payment of a 4-year term loan due this year
3. Salaries payable
4. Debt guarantees
5. FICA taxes payable
6. Income taxes payable
7. Payment of a 30-year term loan due this year
8. Payment of a 30-year term loan due next year. (The company's operating cycle is 2 months.)
9. Warranty work completed this year
10. Accounts payable
1. A) Current liability
2. A) Current liability
3. A) Current liability
4. C) Not a liability
5. A) Current liability
6. A) Current liability
7. A) Current liability
8. B) Long-term liability
9. C) Not a liability
10. A) Current liability
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Which of the following describes the major difference between teams and groups?
a. Members of teams generally have a higher commitment to the overall goal than do members of groups. b. Teams are usually smaller than groups. c. Teams do not require leaders, while groups do. d. Teams exist indefinitely while groups exist for a limited period of time.
The power of the U.S. Government to take property from a private individual and use it for public purposes is:
a. Due Process b. Equal Protection c. Eminent Domain d. Suffrage
An employee earned $4,600 in February working for an employer. The FICA tax rate for Social Security is 6.2% of the first $127,200 earned during each calendar year and the FICA tax rate for Medicare is 1.45% of all earnings. The employee has $644 in federal income taxes withheld and has voluntary deductions for health insurance of $50 and contributes 10% of gross pay to a retirement plan each month. The employer pays the $200 remainder of the health insurance premium and an equal amount of contribution to the retirement fund. What is the amount of net pay for the employee for the month of February?
A. $3,094.10 B. $2,634.10 C. $3,446.00 D. $3,604.10 E. $3,496.00
EDGAR is the world's largest electronic securities exchange.
Answer the following statement true (T) or false (F)