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Book Cover
Financial and Managerial Accounting: The Basis for Business Decisions, 12/e
Jan R. Williams, University of Tennessee
Susan F. Haka, Michigan State University
Mark S. Bettner, Bucknell University
Robert F. Meigs
Liabilities

True/False Quiz

Please answer all questions



1

An employee who earns $100,000 per year pays twice as much social security taxes as an employee who earns $50,000.
A)True
B)False
2

In a fully amortizing installment loan, the interest charge increases every period.
A)True
B)False
3

A high debt ratio indicates an extensive use of leverage.
A)True
B)False








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