Art Parrish Is the Sole Employee of Parrish Sales

question 135

True/False

Art Parrish is the sole employee of Parrish Sales.His company pays a portion of his health insurance premium,and also contributes to a retirement plan in his name.The company share of the health insurance premium is $400,and the company contribution to the retirement plan is $550.The third journal entry in the payroll cycle to record the employee benefits to be paid by the company should include a credit to Employee benefits payable for $950.

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Definitions:

Eye Contact

The act of looking directly into another individual’s eyes, which is an important part of nonverbal communication.

Respect

An attitude of esteem or deference toward others, acknowledging their abilities, qualities, or achievements.

Truthfulness

The quality of being honest or true; not lying, cheating, or stealing.

Inferiority

A feeling of being lower in status or quality compared to others, which can impact an individual's self-esteem and social interactions.