The journal entry a company uses to record fully funded pension rights for its salaried employees at the end of the year is
A) debit Salary Expense; credit Cash
B) debit Pension Expense; credit Unfunded Pension Liability
C) debit Pension Expense; credit Unfunded Pension Liability and Cash
D) debit Pension Expense; credit Cash
D
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Standard costs can be used by management to assess the reasonableness of actual costs incurred.
Answer the following statement true (T) or false (F)
When Mohammed was hired by Pomico, Inc, he signed the following agreement, "Upon termination of my employment with Pomico, I agree not to work for a competing company within 20 miles of Pomico's headquarters for one year." This agreement, important to protecting secret information developed in the employer's business, is A)an unenforceable exculpatory agreement
B)an unenforceable unconscionable agreement. C)an enforceable duress agreement. D)an enforceable agreement not to compete.
Christie and Jergens formed a partnership with capital contributions of $300,000 and $400,000, respectively. Their partnership agreement calls for Christie to receive a $60,000 per year salary. Also, each partner is to receive an interest allowance equal to 10% of a partner's beginning capital investments. The remaining income or loss is to be divided equally. If the net income for the current year is $135,000, then Christie and Jergens's respective shares are:
A. $35,000; $100,000. B. $57,857; $77,143. C. $92,500; $42,500. D. $67,500; $67,500. E. $90,000; $40,000.
In a global context, ________ include the rules, policies, and enforcement processes that influence the behavior of individuals and organizations within a country
A) physical forces B) institutional forces C) sociocultural forces D) technological forces