Author Question: FICA taxes include amounts for both Social Security but not Medicare programs. a. True b. False ... (Read 123 times)

MGLQZ · **on:** Jul 5, 2018

FICA taxes include amounts for both Social Security but not Medicare programs.
a. True
b. False
Indicate whether the statement is true or false

Question 2

Which of the following statements is FALSE?

A) The allowance method is a GAAP method.
B) The direct write-off method violates the matching principle.
C) Under the direct write-off method, accounts are expensed when they are identified as uncollectible.
D) Under the allowance method, amounts written off are recorded as bad debts expense.