- Identify the different type of deductions that are taken out of an employee's paycheck and explain what each deduction is for.

- In your opinion is it smart for a company to have a separate bank account for payroll? Please explain your decision and how do you think your decision may affect the accounting department.

- Do you see any connection between the requirements for recording Contingent Liabilities highlighted in the chapter and the way a routine recurring liability like employee vacation pay is recorded? If so, please explain.