Art Parrish Is the Sole Employee of Parrish Sales

question 78

Multiple Choice

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 which of the following?

• A) Debit Employee benefits payable
• B) Credit Health insurance expense
• C) Credit Retirement plan expense
• D) Credit Employee benefits payable

Discuss the role of improvisation skills in developing an entrepreneurial mindset.

Understand strategies and principles behind social influence and compliance tactics.

Recognize the role of social context and group dynamics in individual behavior.

Identify the psychological mechanisms behind conformity and obedience.

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Definitions:

Straight Line

A geometric figure formed by a set of points in a fixed linear relationship, extending infinitely in both directions.

Variable

In economic and mathematical contexts, a variable is an element, feature, or factor that is liable to vary or change.

Infinite Slope

A mathematical concept where a line or curve on a graph approaches a vertical position, indicating a very steep, immeasurable change.

Curve

A smooth, continuous line or path that is not straight, often used in mathematics and economics to represent relationships between variables.