QUESTION 8 Which of the following is considered a pre-tax payroll deduction? a.union dues b.garnishments c. health insurance d.child support QUESTION 9 Which of the following is not an expense of a partnership? a. freight out b.expired insurance c. supplies used d. partner salaries QUESTION 10 What is the percentage to calculate employer medicare taxes? a. 6.2% of gross or taxable wages up to $118,000 b.1.45% of gross or taxable wages C. 4.25% of gross or taxable wages d. 1.45% of gross or taxable wages up to $118,000 QUESTION 11 Which financial statement shows the changes in capital for a partnership? a.statement of retained earnings b.statement of stockholders' equity c. statement of partners' capital d.statement of owner's equity QUESTION 12 Which of the following would cause a capital deficiency (negative capital balance)? a. all would cause a capital deficiency b.a new partner receives a sign-on bonus that is a partner's capital balance c. the partnership has sustained losses over the past few years d. a partner withdraws > his or her capital balance QUESTION 13 A contingency that is remote should be disclosed a. in the notes to the financial statements b.in the financial statements c. as a loss in the financial statements d.as a gain in the footnotes QUESTION 14 The matching principle dictates that warranty expenses be recognized when? a. in the year the product was warranted b.when the warranty period ends c. in the year the product was sold d. when repairs are expected to be made