Question Details

Companies report the amount of social security taxes 




True or false:
1.	A short-term obligation can be excluded from current liabilities if the company intends to refinance it on a long-term basis and demonstrates the ability to consummate the refinancing.

	2.	Many companies do not segregate the sales tax collected and the amount of the sale at the time of the sale.

	3.	A company must accrue a liability for sick pay that accumulates but does not vest.

	4.	Companies report the amount of social security taxes withheld from employees as well as the companies’ matching portion as current liabilities until they are remitted.

	5.	Accumulated rights exist when an employer has an obligation to make payment to an employee even after terminating his employment.



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