Under the Federal Insurance Contributions Act (FICA) payments into the Social Security fund are ________.
A. solely the responsibility of the employee
B. jointly the responsibility of the employee and the employer, who each transmit payments
C. only made by self-employed individuals
D. the responsibility of the employer, who deducts the employees' portions from their wages and remits those, along with the employer's matching payment, to the federal government
Answer: D
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Which of the following types of decisions involves deciding whether to perform a particular activity in-house or purchase it from an outside supplier?
A. Continue or discontinue B. Make-or-buy C. Sell-or-process further D. Special-order
The income statement typically provides information about the operating results of business segments
Indicate whether the statement is true or false
Which of the following is true of the board of directors in a public stock company?
A. Because shareholders generally have uniform interests, the composition of the board is generally a unanimous decision. B. The functions of the board of directors are limited to ensuring the hiring and firing of CEOs. C. Votes at shareholder meetings determine whose representatives are appointed to the board of directors. D. The board of directors acts as a facilitator to convey interests of the stockholders to the management without any real authority.
A high accounts receivable turnover in comparison with competitors suggests that the firm should tighten its credit policy.
Answer the following statement true (T) or false (F)