Employer-paid premiums on group-term life insurance in excess of $50,000 coverage are taxable to the employees based on the cost of the excess.
Answer the following statement true (T) or false (F)
True
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How would Wei-Skillern categorize mission-related earned income that a nonprofit organization is very dependent on?
A. integral B. disposable C. sustaining D. supplementary
Isadore Hospital bases its budgets on patient-visits. The hospital's static planning budget for July appears below: Budgeted number of patient-visits 7,700 Supplies (@ $4.60 per patient-visit)$35,420Laundry (@ $7.20 per patient-visit) 55,440Salaries 46,200Occupancy costs 67,760Total$ 204,820Actual results for the month were: Actual number of patient-visits 7,800Supplies$38,250Laundry$61,240Salaries$46,190Occupancy costs$65,650The spending variance for supplies costs for the month is:
A. $2,830 U B. $2,370 F C. $2,830 F D. $2,370 U
Answer the following statements true (T) or false (F)
1. The Supplies account must be adjusted to reflect the supplies that were used during the period. 2. The adjusting journal entry to reflect $450 of supplies used during a period would include a debit to Supplies Expense and a credit to Cash. 3. Red's Rose Shop forgot to make the adjusting entry to account for $350 of supplies used during the period. This error would cause the net income to be overstated. 4. Land must be adjusted for depreciation at the end of the period. 5. Wages that have been accrued need to be recorded so that the matching principle is reflected in Wages Expense.
It is unethical to submit an unsolicited proposal to a customer
a. True b. False Indicate whether the statement is true or false