Which of the following is not an approach to financing employee benefits?Select one:a.Noncontributoryb.Employee-financedc.Contributoryd.Voluntary

Employee benefits refer to the benefits that are provided to the employees over or above the…

Answered: Which of the following is not an…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Numerous employee benefits are not included in gross income. True False
Employee benefits given by an employer to an employee may be recognized by the employer as I.Asset II. Liability IIIEquity IV. Income V. Expense II, V I, II, III, V I, II, III, IV, V I, II, V
TRUE OR FALSE The fringe benefits tax assumed by the employer is a deductible expense of the recipient managerial employee
Which ia a type of employees as to taxabilitya. minimum wage earnersb. regular employeesc. corporate earner employeesd. both a and b
Which of these employees benefits is subject to fringe benefit tax? Fringe benefits to rank and file employees Regular pay of supervisory and managerial employees Fringe benefits to supervisory and managerial employees Regular pay of rank and file employees
Apart from the benefits required by legislation, what benefit can a company expect from offering additional post-employment benefits to its employees? Share your opinion.
Your company has decided to offer company-sponsored, outsourced retirement planning to employees as a voluntary benefit. Which data set did the employer most likely use to make this decision? A. Ethical B. Compliance C. Demographic D. Economic
Describe how an experience-rating system is used in determining employers’ contributions to state unemployment compensation funds
Which of the following does not describe a defined contribution plan? The employer bears the risk of investment in a defined contribution plan. The contribution is certain but the benefit is uncertain. If the plan does poorly, the employee will share in the loss by paying more contributions. The accumulated fund on the date of an employee’s retirement determines the benefit.
Please solve this
Which of the following does not increase the Projected Benefit Obligation? Actuarial loss on benefit obligation Current service costs Interest expense on benefit obligation Settlement of benefit obligation
employee’s employment as a result of either: I. An entity’s decision to terminate an employee’s employment before the normal retirement date. II. An employee’s decision to accept an offer of benefits in exchange for the termination of employment. III. An employee’s decision to terminate an employee’s employment before the normal retirement date. IV. An entity’s decision to accept an offer of benefits in exchange for the termination of employment. III and IV I and III II and IV I and II

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Which of the following is not an approach to financing employee benefits? Select one: a. Noncontributory b. Employee-financed c. Contributory d. Voluntary