Describe employer costs by explaining where each dollar of employee compensation is spent.
What will be an ideal response?
Employee compensation is divided between wages and benefits, and benefits can represent more than 50 percent of the total payroll costs. On average, though, wages generally account for 69 cents of each dollar, and benefits the other 31. Benefits are, on average, broken down as follows:Retirement and savings: 4.5%Supplemental pay: 2.3%Paid leave: 7%Health, life, and disability insurance: 8.8%Legally required benefits: 7.8%
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A journal designed for entering only sales on account is called the
a. cash receipts journal; b. accounts receivable journal; c. sales journal; d. sales on account journal; e. general journal
The type of merchandiser who purchases goods from the producer and sells them to retailers that sell them to the consumer is a:
a. Manufacturer. b. Retailer. c. Wholesaler. d. Service business.
Physical logistics services now find themselves competing with telecommunications services. This is a result of the instantaneous delivery capability of information-based products
Indicate whether the statement is true or false
From the stockholder's point of view, a stock split has the same end result as a stock dividend
Indicate whether the statement is true or false.