36 which employee payroll tax deduction should the employer match 100%? a. FICA b. FIT c. FUTA d. SUTA 37. In order to reduce the occurrences of fraud a company generally assigns one employee to This is collect the cash receipts and another employee to prepare the cas referred to as a. Monitoring b. Bonding c. Background check d. Segregation of duties h deposits. 38. A post-closing trial balance will show a. b. c. d. only permanent account balances. only temporary account balances. zero balances for all accounts. the amount of net income (or loss) for the period 39. Which is not a payroll tax paid by the Employer? a. FICA b. FIT c. FUTA d. SUTA 40. Under the percentage-of-receivables basis, the amount of bad debt expense is the difference between the required balance and the existing balance in the allowance account. 41. Blake Company has a credit balance of $5,800 in Allowance for Doubtful Accounts. The What total estimated uncollectibles under the percentage-of-receivables basis is $16,020. is the bad debt expense using the percentage-of-receivable method? a $10,110 b. $10,220 c. $11,520 d. $11,220 42. When the terms of sale are FOB destination, ownership of the goods remains with the seller until the goods a. reach the buyer. b. are paid for by the buyer c. are shipped. d- are accepted by the public carrier. CCOUNTING 101 SPRING 2018 PAGE |7