In the accounting records of a defendant, lawsuits:

Should always be recorded.

Should always be disclosed.

Should be recorded if payment for damages is probable and the amount can be reasonably estimated.

Should never be recorded.

Are estimated liabilities.

Which of the following is not true regarding the unemployment insurance program?

It is administered by each state.

It is a joint federal and state program.

It requires withholding from the employee wages.

It provides unemployment benefits to qualified workers.

It adjusts rates paid by employers based on their merit rating.

Gross pay is:

Deductions withheld by an employer.

Salaries after taxes are deducted.

Total compensation earned by an employee before any deductions.

Take-home pay.

The amount of the paycheck.

The rate that a state assigns reflecting a company's stability or instability in employing workers is the:

Pay rate.

FICA rate.

Merit rating.

Credit rating.

Tax withholding rate.

The employer should record deductions from employee pay as:

Payroll taxes.

Wages payable.

Employee receivables.

Current liabilities.

Employee payables.