Which of the following statements is not correct?
A. The earnings from pension fund investments are taxable to the pension plan sponsor.
B. Firms with larger union memberships tend to have higher pension funding ratios.
C. The U.S. income tax code creates incentives for firms to overfund their pension plans.
D. The U.S. income tax code influences pension fund contributions.
Answer: A
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The accountant for Frieda Company did not record a purchase of merchandise on credit or include the items in the ending inventory. Assuming a periodic inventory system, the balance sheet effects of these omissions on assets, liabilities, and retained earnings would be Set Assets Liabilities Retained Earnings I. Understate Understate Understate II. Understate Understate No effect III. No effect
Understate No effect IV. Understate No effect Understate ? A) Set I B) Set II C) Set III D) Set IV
Data analytics can provide deep insight into financial data, but is not particularly useful when evaluating non-financial data such as social media.
Answer the following statement true (T) or false (F)
Which of the following is always true about tipped employees?
A) The minimum wage for tipped employees is consistent among all states. B) They have the opportunity to earn tips from patrons as a regular part of their job. C) They only earn occasional tips from other employees. D) They must earn more than 50% of their income from tips.
Joseph Juran provided guidance regarding how to conduct quality planning. All of the following items are consistent with his quality planning guidance EXCEPT:
a. identify all customers and their needs b. quality must be inspected into the process c. develop methods to satisfy customer requirements d. develop requirements based on customer needs