Unlike a corporate board of directors, an advisory board has legal responsibilities
Indicate whether the statement is true or false.
Answer: FALSE
Explanation: Unlike a corporate board of directors, an advisory board does not have legal responsibilities, and you don't have to incorporate to establish an advisory board.
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To improve the decision making process and reduce risk, information used by individuals and business firms must be which of the following?
A) Creative B) Colorful and graphic C) Relevant, useful, and accurate D) Extremely detailed
Doug, an employee of Cayman Travels, 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. His year-to-date pay has already exceeded the $7,000 cap for FUTA and SUTA. Provide the journal entry to record the employer's payroll taxes. (Assume a FICA-OASDI Tax of 6.2% and FICA-Medicare Tax of 1.45%.) What will be an ideal response