121. An assist in internal regulate over payrolls that shows employee attendance is  A. "clock card"B. voucher systemC. payroll registerD. employee's income record

 

122. Which the the complying with is no an internal regulate procedure because that payroll? A. employees observed clocking in and outB. payroll depends on a fired employee's super to inform them when an employee has actually been firedC. payroll needs employees to display identification as soon as picking up your paychecksD. changes in pay prices on a computerized system must be tested by someone independent the payroll

 

123. A pension setup which needs the employer to make yearly pension contributions, through no promise to employees concerning future pension payments, is termed  A. fundedB. unfundedC. defined benefitD. defined contribution

 

124. During its very first year that operations, a company granted employees vacation privileges and also pension rights estimated at a price of $21,500 and $15,000.  The vacations space expected to it is in taken in the following year and the pension legal rights are intended to be paid in the future 5-30 years.  What is the complete cost of vacation pay and pension legal rights to be well-known in the first year? A. $15,000B. $36,500C. $6,500D. $21,500

 

125. A pension setup which guarantees employees a fixed yearly pension benefit, based upon years the service and compensation, is referred to as a(n)  A. defined donation planB. defined advantage planC. unfunded planD. funded plan

 

126. Vacation salary payable is report on the balance sheet as  A. current liability or permanent liability, relying on when the vacations will certainly be take away by employeesB. current liabilityC. stockholders’ equityD. long-term liabilities

 

127. An unfunded pension legal responsibility is report on the balance sheet as  A. current liabilityB. stockholders’ equityC. long-term liabilityD. current liability or permanent liability, relying on when the pension legal responsibility is to it is in paid

 

128. The newspaper entry a firm uses to record accrued holidays privileges for its employee at the end of the year is  A. debit vacation Pay Expense; credit transaction Vacation salary PayableB. debit vacation Pay Payable; credit Vacation pay ExpenseC. debit value Expense; credit CashD. debit value Expense; credit salaries Payable

 

129. The journal entry a agency uses come record fully funded pension legal rights for that is salaried employee at the finish of the year is  A. debit salary Expense; credit transaction CashB. debit Pension Expense; credit transaction Unfunded Pension LiabilityC. debit Pension Expense; credit transaction Unfunded Pension Liability and also CashD. debit Pension Expense; credit transaction Cash

 

130. The journal entry a agency uses to record partly funded pension civil liberties for its salaried employees, in ~ the finish of the year is  A. debit salary Expense; credit CashB. debit Pension Expense; credit transaction Unfunded Pension LiabilityC. debit Pension Expense; credit transaction Unfunded Pension Liability and also CashD. debit Pension Expense; credit transaction Cash