FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Employer-sponsored Accident and Health Plans, Medical Reimbursement Pland, Long Term Care Insurance Plans and Cafeteria Plans are all:
a. Types of expenses of employee. |
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b. Taxes paid by employees.
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c.types Exclusions availble to Employees.
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d. types of Exclusions Available to Employers. |
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- With respect to employer-sponsored health insurance plans, the amount of money a covered participant must pay before health insurance benefits become active is known as which of the following? Select one: a. Premium b. Safe harbor c. Deductible d. Coinsurancearrow_forwardWCB premiums are deducted from an employee's pay. Question 5 options: True Falsearrow_forwardExplain how distributions from a qualified pension plan, which are made in the form of annuity payments, are reported by an employee under the following circumstances: a. No employee contributions are made to the plan. b. The pension plan provides for matching employee contributions. a. Explain how distributions from a qualified pension plan, which are made in the form of annuity payments, are reported by an employee when no employee contributions are made to the plan. O A. The distributions are only taxable to the employee once the taxpayer is retired. B. The distributions are only taxable to the employee once the taxpayer reached 65 of age. C. The distributions are fully taxable to the employee when the payment is received. D. The distributions are not taxable to the employee when the payment is received. b. Explain how distributions from a qualified pension plan, which are made in the form of annuity payments, are reported by an employee when the pension plan provides for matching…arrow_forward
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