Which of the following statements is correct?
A)Social Security tax is employer paid only.
B)The pay period always ends in conjunction with the company's fiscal year end.
C)Many fringe benefits such as sick and vacation leave benefits should be recognized when the employee earns the benefit not when they take the leave.
D)Unemployment taxes are paid by the employee only.

Question

Quizplus · Accepted Answer

Expenses should be recognized when they are incurred.

Which of the Following Statements Is Correct