Having a cash ratio below 1 is a good thing
Indicate whether the statement is true or false
TRUE
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The primary advantage of Internet sampling to the firm providing the sample is that:
A) it is cheaper than the other methods of distribution B) more expensive samples can be provided C) only individuals who request the sample will receive it D) the target market of the sample tends to have a higher educational level and higher income
A person is guilty of breach of duty if he or she exposes another person to a foreseeable, unreasonable risk of harm, something the "reasonable person" would never do.
Answer the following statement true (T) or false (F)
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
If a company uses the allowance method of accounting for bad debts:
A) it uses a liability account called the Allowance for Bad Debts account. B) it will record bad debts only when an account is determined to be uncollected. C) it does not have to reduce accounts receivable when the account is written off. D) it will report accounts receivable in the balance sheet at their net realizable value.