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Which statement relating to workers compensation insurance

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Reference no: EM132774732

Problem 1: Only goodwill should be recorded in the balance sheet.

Select one:

a. customer.
b. purchased.
c. internally generated.
d. current.

Problem 2: Which statement relating to workers' compensation insurance is incorrect?

Select one:

a. It is compulsory for all employers to take out workers' compensation insurance.
b. The percentage rate of premium is the same rate for all employers.
c. The premium is based on a percentage of the wages and salaries bill for the coming year.
d. When workers' compensation insurance is paid in advance, the journal entry is: DR Prepaid workers' compensation insurance; CR Bank .

Reference no: EM132774732

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