Which of the following statements regarding the funding of Social Security is false?
A) In 2010, workers contributed 6.2% of their wages up to a maximum of $106,800.
B) Employers contribute an amount equal to the workers' contributions.
C) Interest, dividend, rent, and royalty income are also taxed to provide supplemental funds for Social Security.
D) Contributions exceeding the amounts paid to current Social Security recipients are invested in Treasury bonds to build up a Social Security trust fund.
C
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Which of the following pay structures would a company adopt if it wanted a pay structure that rewards employees based on their knowledge and competency?
A. Pay policy line approach B. Skill-based pay approach C. Pay grade approach D. Delayering approach E. Market survey data approach
Albritton Inc bought a patent for $900,000 on January 2, 2010, at which time the patent had an estimated useful life of ten years. On February 2, 2014, it was determined that the patent's useful life would expire at the end of 2016 . How much would Albritton record as amortization expense for this patent for the year ending December 31 . 2014?
a. $200,000 b. $180,000 c. $110,000 d. $90,000
What is shareholders' equity?
A firm is doing a marketing cost analysis involving two products, three target markets, and $6 million in advertising costs. The firm should
A. allocate these costs to general overhead. B. allocate $3 million of the advertising costs to each product. C. allocate $2 million of the advertising costs to each target market. D. determine the purpose of the advertising and allocate costs to products and target markets accordingly. E. allocate these costs to each product and target market on the basis of their percentage of total sales.