Payroll taxes paid by employees include which of the following? O Federal income tax, federal unemployment tax, and Medicare O Social security, federal unemployment tax, and state unemployment tax O Social security, federal income tax, and federal unemployment tax O Federal income tax withheld, state income tax withheld, and Medicare Which of the following statements about bonds and notes is not correct? O A company can borrow the funds necessary to finance its activities using bonds or promissory notes O Borrowings using bonds or notes are initially recorded with a journal entry that debits Cash and credits the relevant liability account. The journal entry that records interest owed on bonds and notes includes a debit to Interest Expense and a credit to Interest Payable. O Bonds Payable and Notes Payable are always classified as noncurrent liability accounts Advantages of equity financing over debt financing include that: O dividends are mandatory. O equity financing does not require repayment. O dividends are tax deductible. O stockholders' control will increase. A company typically records the amount owed to suppliers for goods or services when O they are ordered. O a verbal commitment to purchase the goods or services has first been made. O payment is made O the goods or services are received.
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