Cash equivalents on the statement of cash flows consist of any investment that can be converted into cash within one year.
Answer the following statement true (T) or false (F)
False
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An employee earned $4,600 in February working for an employer. The FICA tax rate for Social Security is 6.2% of the first $128,400 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. $3,604.10 B. $3,094.10 C. $3,446.00 D. $3,496.00 E. $2,634.10
Which of the following statements is true about the Internet?
a. The Internet has shifted all shopping power to consumers b. Consumer reviews on the Internet about various products tend to be equal in quality c. Business-to-business auctions on the Internet are likely to be the dominant form in the future d. Extranets are programs that search the Internet for the best price for a particular product
A distribution in a partnership may be:
A) a payment made to compensate a partner for services rendered to the partnership. B) a division of profits. C) repayment of a loan to a partner. D) All of these are types of distributions in partnerships.
In a decision making environment, continuous change always validates the assumptions of the decision makers
Indicate whether the statement is true or false