When an organization recognizes a provision and associated expenditure for yearly leave as well as a provision for long-service leave for its workers, the risk to the employees of not being paid these amounts is virtually nil. Is this correct or incorrect? Why
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When an organization recognizes a provision and associated expenditure for yearly leave as well as a provision for long-service leave for its workers, the risk to the employees of not being paid these amounts is virtually nil. Is this correct or incorrect? Why?
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- Some employers will pay out employees for any unused sick leave entitlements if they leave the organisation, whereas in other organisatons employees forfeit this entitlement when they leave. Needs answer to the following; Explain how these different types of sick leave entitlements are treated for accounting purposes.Some employers will pay out employees for any unused sick-leave entitlements if they leave the organisation, whereas in other organisations employees forfeit this entitlement when they leave. Explain how these different types of sick-leave entitlements are treated for accounting purposes.In the case where an employer is delinquent in paying contributions to the state for SUTA: a. experience ratings may be decreased. b. their employees may not be eligible to collect unemployment benefits. c. the employer may be required to contribute monthly rather than quarterly. d. a 100% penalty may be imposed.
- For termination benefits payable as a result of an entity’s decision to terminate an employee’s employment, the entity can no longer withdraw the offer when the entity has communicated to the affected employees a plan of termination, provided which of the following criteria All of the other three choices. Actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made. Either one of the three choices. The plan identifies the number of employees whose employment is to be terminated, their job classifications or functions and their locations (but the plan need not identify each individual employee) and the expected completion date. The plan establishes the termination benefits that employees will receive in sufficient detail that employees can determine the type and amount of benefits they will receive when their employment is terminated.Unless exempted under the appropriate legislation salaried employees are entitled to overtime for hours worked in excess of the minimum standards.. Select one: True FalseThese provide an employee with financial security upon ceasing employment. A wide variety of these exist, and withholding from gross pay for these plans is a voluntary deduction. The withholding of a portion of an employee's earnings, in compliance with a court order or other legal proceeding. Limited to the lesser of 25% of disposable earnings or the amount of disposable earnings that exceed 30 times the federal minimum wage. A flexible spending account that is designated for a specific purpose. It is a type of cafeteria plan.
- What might a company do to prevent an employee from taking wages in kind?Employees at Abreu Company have the option of carrying over or "cashing" in unused vacation days. Does the employer include the time or earnings when computing overtime for these nonexempt workers if they cash out?The TCJA eliminated which of the following? A) Annual Filing Season Program B) Deduction for qualified employee fringe benefits for transportation C) Due Diligence Requirements D) Deduction for gambling losses
- Which statement is incorrect regarding recognition of employee benefits? a. The enterprise should recognize the expected cost years of service. of profit-sharing and bonus payments when, and only when, it has a legal or constructive obligation to make such payments as a result of past events and a reliable estimate of the expected cost can be made b. For short-term employee benefits, the undiscounted amount of the benefits expected to be paid in respect of service rendered by employees in a period should be recognized in that period. c. The cost of providing employee benefits should be recognized in the period in which the benefit is earned by the employee, rather than when it is paid or payable. d. For post-employment benefits, the cost to be recognized in the period is the contribution payable in exchange for service rendered by employees during the period.When an employer does not have a sophisticated time-keeping system, it is valid to accrue a percentage of wages at end-of-period based on:a. it is never valid to estimate an end-of-period adjustment.b. a percentage based on the previous period's payroll (for example. 4 out of 5 days = 80% x prior payroll).c. a percentage that external auditors provide the payroll clerk.d. a percentage suggested by the IRS.Which of the following statements regarding workers’ compensation insurance is true? Group of answer choices a. The federal government is responsible for setting workers’ compensation legislation and regulating the program. b. Workers’ compensation insurance includes only rehabilitation expenses. c. Employees are required to bear half of the entire cost of workers’ compensation insurance. d. Workers’ compensation insurance compensates workers who are injured on the job or become ill through work-related causes. e. Employers who file the most claims pay the lowest premiums on the insurance coverage.
