If Jimmy is terminated before he is fully vested in an employer-sponsored plan, Jimmy may not get to keep previous contributions to his pension made by his employer.   Group of answer choices   True   False

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Which of the following characteristics is typical of group insurance? A.Each employee receives an individual contract   B.All full-lime employees are eligible for coverage.   C.Employees may automatically enroll for coverage at any time.

General Partners should withhold social security tax on their guaranteed payments. - (True or False)

Under ASC 710-10-25-1, an employer shall accrue a liability for employees' compensation for future absences if all the following conditions are met: I. The employer's obligation relating to employees' rights to receive compensation for future absences is attributable to employees' services already performed. II. The paid absence can be taken in a later year-the benefit vests (will be compensated even if employment is terminated) or the benefit can be accumulated over time. III. Payment of the compensation is probable. IV. The amount can be reasonably estimated. If the amount cannot be reasonably estimated, None of the other answers is correct. O There is no need to disclose it. The employer shall accrue a liability in balance sheet. The employer shall disclose it in the notes to financial statements.

A covered member creates a blind trust and transfers assets into the blind trust. The covered member will not supervise or participate in the trust’s investment decisions during the term of the trust. if the covered member retains the right to amend or revoke the trust, Will the trust and the underlying assets be considered the covered member’s direct financial interests?   Yes or No

life insurance proceeds paid to a beneficiary because of the insured's death is taxable. true or false

An employee who files as Married Filing Jointly, is paid biweekly, works one job, and completed the current Form W-4 will have no federal income tax withholding if using the percentage method provided their adjusted wages do NOT exceed $

An employer is allowed to use Form 944 when: (a) Their annual payroll tax liability is $1,500 or less. (b) They are a new employer, in which case Form 944 is required. (c) They make a request to use Form 944 and the request is pending. (d) They receive notification from the IRS that use of Form 944 is approved.