Question 2: How is self-employment income calculated?

Q: What is the maximum contribution that an employer can make to an employee’s SIMPLE account?

A: A SIMPLE IRA (Savings Incentive Match Plan for Workers) plan enables employees as well as employers…

Q: difference between Wages and Salary?

A: Wages and salaries are the remuneration paid to the employees by the employer for their contribution…

Q: How is compensation expense computed using the fair value approach?

A: The fair value method records the compensation for stock option transactions at fair value of the…

Q: When is an employer-employee relationship exist?

A: Definition:

Q: variables cost

A: Variable cost is the cost that change according to sale or production volume.

Q: what is the difference betwwen classifying an expense by nature or function?

A: The costs that are incurred to earn revenues in the process of operating activities of the business…

Q: What is an undertaking? What is a "separate source of income production," and why is this…

A: An undertaking can refer to several concepts depending on the context:1. It can be a job, business,…

Q: discuss the advantages and disadvantages of residual income

A: INTRODUCTION: The excess of net income over the required minimum return is known as residual income.…

Q: What is accrual accounting?

A: Accrual basis of accounting is an accounting method based on which accrual transaction are recorded…

Q: Define gross pay.

A: Payroll: The total payment that a company is required to pay to its employee for the services…

Q: a present obligation?

A: Given: To explain the economic resource and the present obligation as,

Q: What is the vested benefit obligation?

A: Pension Obligation: It refers to the commitment provided by the employer to pay its employees, the…

Q: What is the primary objective of any base wage and salary system?

A: A basic salary, also known as a base salary, is the amount of money that a salaried employee…

Q: How incrising minimun wages affect compensation ?

A: Raising the minimum wage would make it more expensive to hire low-paid workers as it would be…

Q: What is accured expenses with example

A: Definition: Expenses: Expenses are costs incurred for the operations of a business. The costs…

Q: Differences Between Being Self-Employed and Employed ?

A: Individuals who are self-employed work for themselves, managing their own enterprises or offering…

Q: Why is the basic earning power ratio useful?

A: Basic earning power ratio shows the relationship between earnings before interest and taxes and…

Q: Can ownership structure affect earning management?

A: Corporate finance is referred as the decision of the firm to take capital investments and other…

Q: What is the difference between direct and indirect expenses?

A: Expenses: Expenses are costs incurred for the operations of a business. The costs incurred for…

Q: What would be the difference between the CMO with and without the accrual class?

A: A collateral mortgage obligation is a financial instrument that is backed up by the mortgage to be…

Q: What are royalties ?

A: Royalties means payments  made for the purpose of use of property or license or some other important…

Q: What are the administrative expenses?

A: Administrative expenses are expenses an organization incurs that are not directly tied to a specific…

Q: What is Output tax

A: In order to generate revenue, the government frequently employs and imposes indirect taxes. They are…

Q: Which of the following is the process of deciding on the schemes of financial incentives in addition…

A: Financial incentives are given to the employees and workers of the entity to motivate them so that…

Q: Define basic earning power (BEP) ratio

A: The formula to compute basis earning power ratio as follows:

Q: What is the difference between gross pay and net pay?

A: Gross pay: The total amount such as salary, wages, commissions, overtime, and bonus paid by the…

Q: What does Compensation for employee services includes?

A: Introduction Compensation is the cash paid to employees for their service that they provided for the…

Q: What is accrued rent?

A: The accrual basis of accounting is the accounting done for the transaction even if the cash inflow…

Q: What is good works net income or liss

A: The Income statement tells the profit or loss of the firm. It's main purpose is to figure out the…

Q: trail balance not include O revenue. cost of goods sold. O Ending inventory. O fright-in account.

A: Trail balance consists of general ledger balances.Summation of all debits should equal to summation…

Q: Describe workers' compensation and explain why it is important.

A:

Q: The purpose of a statement of retained earning is to ?

A: Statement of Retained earnings is prepared to show the details of changes occurred in equity over an…

Q: Define net pay.

A: Payroll: Payroll refers to the total amount that is required to be paid by the company to its…