Question
Hello, I was wondering if you could up me with my accounting questions? 1) Which accounting principle requires reporting expense in the same period as
Hello, I was wondering if you could up me with my accounting questions?
1) Which accounting principle requires reporting expense in the same period as the sales they helped to produce?
a. Materially
b. Going concern
c. Matching
d. Cost
e. Business entity
2) A payroll deduction required by the federal government and used to pay the cost of the employment insurance programs is called:
a. Periodic employment tx
b. Employment Insurance
c. Provincial employment tax
d. Joint employment tax
e. Contribution tax
3) A company has 10 employees who earned a total of 30,000 in January (3,000 each). CPP taxes are 4.95% paid by employees and 4.95% paid by the employer. Income tax withholdings amount to 4,500. The employee EI rate is 1.83% of the total, and the employer EI contribution is 1.4 times the employmee portion. The gross pay of the 10 employees during January is:
a. 33,209
b. 33,113
c. 30,000
d. 29,190
e. 28,230
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