The Employee Retirement Income Security Act imposes standards of conduct and responsibility on fiduciaries of benefit plans established or maintained by employers and unions engaged in or affecting interstate commerce. ?
Indicate whether the statement is true or false
True
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The collection of a $400 account within the 2 percent discount period would result in a(n)
a. increase to Accounts Receivable for $392. b. decrease to Cash for $392. c. increase to Sales Discounts for $8. d. decrease to Accounts Receivable for $392.
Island Company has 1,000,000 shares of common stock authorized with a par value of $3 per share of which 600,000 shares are outstanding. Island authorized a stock dividend when the market value was $8 per share, entitling its stockholders to one additional share for each share held. The par value of the stock was not changed. Assuming the declaration is not recorded separately, what entry, if
any, should Island make to record distribution of the stock dividend? a. Retained Earnings........... 4,800,000 Common Stock.............. 1,800,000 Gain on Stock Dividends... 3,000,000 b. Retained Earnings........... 1,800,000 Common Stock.............. 1,800,000 c. Retained Earnings........... 4,800,000 Common Stock.............. 1,800,000 Paid-In Capital from Stock Dividends 3,000,000 d. Memorandum entry noting the number of additional shares issued as a dividend
ALDEP is ______.
A. used to balance asymmetric production lines B. a method to promote efficiencies in managing production costs C. the acronym for Automated Layout Design Program D. the acronym for Asymmetric Line Development Program
The effect of an annual out-of-pocket limit in an individual medical expense policy is to
A) limit the lifetime benefits payable under the policy. B) put a cap on annual benefits the insurer will pay. C) prevent the insured from receiving duplicate benefits if medical expenses are also covered under workers compensation insurance. D) cover 100 percent of eligible medical expenses after an insured has incurred a specified amount of annual out-of-pocket expenses.