Use this information to answer the following question. The following totals for the month of November were taken from the payroll register of Levine Company: Salaries expense $12,000 Social security and Medicare taxes withheld 550 Income taxes withheld 2,500 Medical insurance deductions 250 Life insurance deductions 200 Salaries subject to federal and state unemployment taxes of 6.2 percent 4,000
The amount of liabilities relating to payroll, other than Salaries Payable, is
a. $4,178.
b. $3,748.
c. $3,628.
d. $4,298.
D
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Transactions involving the purchase and sale of long-term assets, investing in equity securities, lending money, and collecting the principal on related loans are called
a. investing activities. b. operating activities. c. financing activities. d. buying and selling activities.
Under an acceptable method of costing by-products, inventory costs of the by-product are based on the portion of the joint production cost allocated to the by-product
a. but any subsequent processing cost is debited to the cost of the main product. b. but any subsequent processing cost is debited to revenue of the main product. c. plus any subsequent processing cost. d. minus any subsequent processing cost.
____ allows users to create program units in any schema and does not allow the modification or dropping of program units.
A. CREATE PROCEDURE B. CREATE ANY PROCEDURE C. ALTER PROCEDURE D. EXECUTE ANY PROCEDURE
The degree of operating leverage is defined as the percentage change in earnings before interest and taxes (EBIT) associatedwith a given percentage change in sales.
Answer the following statement true (T) or false (F)