The journal entry a company uses to record pension rights that have not been funded for its salaried employees, at the end of the year is
A) debit Salary Expense; credit Cash
B) debit Pension Expense; credit Unfunded Pension Liability
C) debit Pension Expense; credit Unfunded Pension Liability and Cash
D) debit Pension Expense; credit Cash
B
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Each account in the chart of accounts has a separate record in the general ledger master file
Indicate whether the statement is true or false
A contingency was evaluated at year-end. Management felt it was probable that this would become an actual liability and the amount could be reasonably estimated. If this was not reported on the balance sheet or in the notes to the financial statements, what is the effect on the financial reporting of the company?
A) There would be no effect. B) The liabilities on the balance sheet would be understated. C) The information about the transaction would be inadequately disclosed in the notes. D) The net income of the company would be understated.
The process of studying how to exploit a firm's resources to achieve short-term and long-term marketplace success, deciding upon a course of action, and flexibly updating it as learning occurs during implementation is _______
a. understanding firms as customers b. crafting market strategy c. customer relationship management d. market sensing
Geert Hofstede's research found that countries varied on ________ dimensions of national culture.
A. eleven B. five C. seven D. nine