Belkin Co. provides medical care and insurance benefits to its retirees. In the current year, Belkin agrees to contribute 5% of the employees' $250,000 gross salaries to a retirement program. What is the amount of employee benefits expense for the current period?
A. $100
B. $25
C. $250
D. $25,000
E. $12,500
Answer: E
You might also like to view...
A cash register tape would be a source document for which of the following?
a. recording a purchase of inventory on credit b. recognizing a cash sale c. recording an invoice d. recording payroll
The free-form layout is also known as the
A. freedom layout. B. boutique layout. C. specialty layout. D. format layout. E. loop layout.
Blue Skies Travel charges Ok-Bong Lee a total of $3,500 for a trip to North Korea. After Lee pays the invoice, Blue Skies discovers that it failed to charge a special tax levied by the North Korean government on foreign travelers
Blue Skies sends an additional invoice to Lee, who refuses to pay, saying a deal is a deal. Which of the following is correct? A) This is a mistake of fact on the part of Blue Skies. It is entitled to rectification of the contract – that is, to include the extra charge. B) This is a mistake of law on the part of Blue Skies. The contract is binding on it. C) This is a mutual mistake. The contract cannot be rescinded or changed. D) This is a mistake as to interpretation of the contract. Blue Skies is entitled to damages. E) Lee cannot take advantage of Blue Skies' unilateral mistake, and must pay the additional charge.
Asynchronous Transfer Mode is the leading ________
A) cell division B) cellular osmosis C) cell relay technology D) cell synching