On the balance sheet, inventory is reported as a _____ (check all that apply).

 

 

For a for profit entity, assets = liabilities + _____.

An employee completes a _____ form to show their exemptions/dependents they need withheld for income tax purposes.

Sales analysis is beneficial for a __ entity.

The employer pays the ____ tax which is 0.06% taken from the first $7,000 of each employee's annual income.

Who contributes to FICA (check all that apply)?

What source of income can for profit's obtain that not for profit's cannot?

Expenses for a not for profit entity are reported as what functions? (check all that apply)

The difference in payroll accounting for nonprofit versus for profit institutions is best explained by which of the following? (check all that apply)

Balance sheet accounts are described as what kind of accounts?

The accounts shown in the chart of accounts can be classified into what two categories? (check all that apply)