Which of the following statements about payroll liabilities is correct?
A. Both employers and employees are required to pay unemployment taxes.
B. Accrued payroll includes liabilities required by law or voluntarily requested by employees that have not yet been paid (or remitted).
C. Only employees are required to pay FICA taxes.
D. Accrued payroll liabilities do not include any voluntary deductions by employees for charitable contributions or union dues.
Answer: B
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Under the workers' compensation laws, employees are eligible to receive their regular paychecks in the event of a disability.
Answer the following statement true (T) or false (F)
Another name for a large warehouse is a ________
A) third-party logistics company B) cross-dock C) transportation management system D) distribution center E) stock-keeping unit
For manufacturing firms, the cost of completed products remains on the balance sheet as __________ assets until the firm sells the products; upon sale, the cost of the assets becomes a cost of goods sold expense
a. Direct Materials Inventory b. Work-in Progress Inventory c. Finished Goods Inventory d. Cost of Products Ready for Sale e. none of the above
Most countries base their industrial relations system on the perspective that:
A. Worker rights should be valued over employer rights. B. Employer rights should be valued over worker rights. C. There should be balance between worker and employer rights. D. Consumer rights should be valued over worker rights.