A contract entered into between the parties by words is called AN EXPRESS CONTRACT.
An express contract is an exchange of promise between at least two parties wherein the agreed terms are expressed either orally or in writing at a time it is made. Express contract may also be both oral and written at the same time.
Answer:
Mandatory
Explanation:
The mandatory spending accounts for around two-thirds of the federal budget and is determined by existing laws that constitute programs such as the social secutity program.
Gain or loss from the sale of property must be calculated. The loss from foreclosure of property must be subtracted from wage income.
Answer:
Correct answer is C, $100,000 debit to salaries and wages expense
Explanation:
In order to recognize the expenses for the period, an expense account shoud be debited and a credit to cash or payables that depends if it is already paid (cash) or not (payable). Along with the recognition of the salaries expense paid by the company to their employees is the recognition of the deductions withheld by the employer that should be reported to certain agencies. These includes, Social Secucrity, Taxes and medical insurance mandated to be deducted on the employees wages. Employer will act as a withholding agent and will be obligue to remit it to the agencies within the period of time.
Answer:
The three would be used in Tax Computation
Explanation: continuous
