For Part-Time Employees to Be Eligible to Be in a Company's

question 43

Multiple Choice

For part-time employees to be eligible to be in a company's retirement plan,which two qualifications must be met?

• A) age 21 or older & worked 2000 hours in a year of service
• B) age 21 or older & worked 1000 hours in a year of service
• C) age 18 or older & worked 2000 hours in a year of service
• D) age 18 or older & worked 1000 hours in a year of service

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Definitions:

Adjustments Column

A column in financial statements or ledgers for entries that correct or modify the original amounts for better accuracy.

Trial Balance

A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit accounts columns to check the accuracy of financial transactions.

Work Sheet

An internal document or spreadsheet used by accountants to prepare financial statements and consolidate adjusting entries.

Income Statement Debit

A transaction or expense that decreases net income on the income statement.