A high level of product availability requires less inventory, which will keep costs down for the supply chain

Larry, an employee of Ramsay's, Inc, has gross salary for March of $4,000

The entire amount is under the OASDI limit of $117,000 and thus subject to FICA. He is also subject to federal income tax at a rate of 18%. Larry has a deduction of $320 for health insurance and $80 for United Way. Which of the following is included in the entry to record the liability of payroll withholding deductions? A) debit to Salaries Payable B) credit to United Way Payable C) debit to FICA Taxes Payable D) debit to Cash

Contingency reserves require a construction company to hold back some funds in an account just in case something happens that increases the overall project cost

Indicate whether the statement is true or false