The term "customary authority" refers to authority that agents must have by law
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
Roki Inc uses the periodic inventory system. June 1 On hand, 50 units @ $15.00 each $ 750.00 5 Purchased 115 units @ $15.10 each 1,736.50 14 Purchased 75 units @ $15.20 each 1,140.00 Total cost of goods available for sale $3,626.50 30 On hand, 90 units If Roki uses the weighted average cost inventory method, the amount assigned to the June 30th inventory would be
a. $1,359.90 b. $1,549.00 c. $1,486.50 d. $1,591.50
Differentiate between essential and non-essential activities
Jack, an employee of Desert Sky, Inc., has gross salary for May of $9000. The entire amount is under the OASDI limit of $118,500 and thus subject to FICA. He is also subject to federal income tax at a rate of 21%. Which of the following is a part of the journal entry for accrual of the employer payroll taxes? (Assume a FICA-OASDI Tax of 6.2% and FICA-Medicare Tax of 1.45%.) Jack's income to date exceeds the FUTA and SUTA tax income limits.
A) credit to Salaries Payable for $9000 B) debit to Cash for $6601.50 C) debit to Employee Income Taxes payable of $1890.00 D) credit to FICA-Medicare Taxes Payable of $130.50
The rise of social media puts additional pressure on businesses to handle bad-news messages well
Indicate whether the statement is true or false.