Art Parrish Is the Sole Employee of Parrish Sales

question 155

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 Cash for $950.

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Definitions:

Right Frontal

Pertaining to or located in the right frontal lobe of the brain, an area associated with various cognitive functions including decision-making and emotional response.

Prefrontal Cortex

A part of the brain located at the front of the frontal lobe, involved in complex behaviors such as planning, decision making, and moderating social behavior.

Social Impulses

The innate or conditioned drives that influence human behavior in social contexts.

Poor Planning

The act of designing tasks, projects, or objectives without adequate consideration of potential risks, resources, or consequences, leading to inefficiency or failure.