ACC 304 help A Guide to career/Snaptutorial ACC 304 help A Guide to career/Snaptutorial | Page 155

b. Sick pay benefits vest.
c. Sick pay benefits equal 100% of the pay.
d. Sick pay benefits accumulate.
58. Which of the following taxes does not represent a common
payroll deduction?
a. Federal income taxes.
b. FICA taxes.
c. State unemployment taxes.
d. State income taxes.
59.
What is a contingency?
a. An existing situation where certainty exists as to a gain or loss
that will be resolved when one or more future events occur or fail to
occur.
b. An existing situation where uncertainty exists as to possible loss
that will be resolved when one or more future events occur.
c. An existing situation where uncertainty exists as to possible gain
or loss that will not be resolved in the foreseeable future.
d. An existing situation where uncertainty exists as to possible gain
or loss that will be resolved when one or more future events occur or
fail to occur.
60.
When is a contingent liability recorded?
a. When the amount can be reasonably estimated.