FinMan10e_BTest_ch10

FinMan10e_BTest_ch10 - 10th Edition FINANCIAL & MANAGERIAL...

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10th Edition CORPORATE FINANCIAL ACCOUNTING Warren/Reeve/Duchac Chapter Test 10B Score % Name Course Section NOTE: Each of the 25 correct answers is assigned a weight of 4%. FILL-IN-THE-BLANK—PRINCIPLES AND TERMINOLOGY—40% B
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TEST 10B (Concluded) INSTRUCTIONS: Complete each of the following statements by writing the appropriate words or amounts in the Answers column. For Scoring STATEMENTS Answers 0. A pension plan that promises employees a fixed annual pension benefit at retirement, based upon years of service and compensation levels is called a(n) . ................................................................................. defined benefit plan 0. ____ 1–2. Prior to the last payroll period of the calendar year, the cumulative earnings of Employee A were $105,000. The earnings for the last payroll period for the year, which will be paid on December 30, are $3,500. The Social Security tax rate is 6% on the first $100,000 of
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annual earnings, and the Medicare tax rate is 1.5% on all earnings. 1.
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This note was uploaded on 07/17/2011 for the course ACCT 102 taught by Professor Martinez during the Summer '11 term at Rio Hondo College.

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FinMan10e_BTest_ch10 - 10th Edition FINANCIAL & MANAGERIAL...

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