The employee federal and state income tax and Social Security tax are optional payroll deductions
Indicate whether the statement is true or false
FALSE
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Nichepro Technologies, who were mainly into producing personal computers and laptops, have now decided to produce Nichepro health care products. Explain the branding strategy advocated by the company
What will be an ideal response?
The usual criterion for preparing consolidated financial statements is voting control in the form of majority ownership of common stock. However, for some entities common stock ownership does not indicate control because the common stock of the entity lacks one or more of the economic characteristics associated with equity. Which of the following is/are true?
a. U. S. GAAP refers to such entities as a variable interest entity (VIE). b. If the invested equity is so small that the entity requires other financial support to sustain its activities, it meets the criteria for a variable interest entity. c. If the equity owners lack meaningful decision rights, it meets the criteria for a variable interest entity. d. choices a and b, only e. choices a, b, and c.
Managerial Accounting is designed primarily for external users
Indicate whether the statement is true or false
________ are courts that hear matters of a specialized or limited nature
A) General-jurisdiction trial courts B) Inferior trial courts C) Intermediate appellate courts D) Chancery courts