Question: Which statement relating to workers' compensation insurance is incorrect? It is mandatory for all employers to take out workers' compensation linurance. The premium is deducted

Which statement relating to workers' compensation insurance is incorrect?

It is mandatory for all employers to take out workers' compensation linurance.

The premium is deducted from employees' salary and wapes.

The premium is based on a percentage of the wages and salares bill for the coming year.

If relates to an insurance scheme, imposed by law, whereby the employer purchases insurance which may be used to compenste employees for work related infures and loss of mages

Which statement relating to workers' compensation

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

If the fixed capital balances method (method 2) is used to account for partnership equity, both the profit or loss and the partner's drawings are closed to the: Select one: a.profit or loss summary...

7. is the characteristic of a partnership whereby each partner is liable for partnership debts to the full extent of his or her private assets. Select one: a.limited liability. b.mutual agency....

Which of the following statements in relation to IAS 19/AASB 119 Employee Benefits is not true? Select one: a.Wages and salaries, annual leave and sick leave are to be reported at their nominal...

Louise and Thelma are in partnership sharing residual profits and losses 50:50. The profit for the year is $96 000. Thelma is entitled to a salary of $40 000 per annum (to be paid by means of a book...

Which statement relating to workers' compensation insurance is not true? Group of answer choices When workers' compensation insurance is paid in advance, prepaid workers' compensation insurance is...

Thank u guys:) This is the reference pages but the questions are the last 3 pictures . . . . Craft - Mason Wage rate VET $29.00 Hours worked 50 hours per week for 20 weeks and 40 hours per week for...

I've compromised a mock up contract. I need help from a legal stand point to improve the contract. Skim/Read through part of the contract. If i was Inland Architects which areas in the contract will...

1)Contract laborers get deductions for Social Security and Medicare taxes whenever they get paid. True/False 2)Employees and employers are contributing to the same amount of social security and...

Skim/Read through part of the contract. If i was Inland Architects which areas in the contract will most likely ask for changes. For each area what changes would be acceptable and what changes are...

attached is a quiz with 25 easy questions from individual tax accounting class Quiz 1 Name___________________________ 1. Compute gross income for a single (unmarried) taxpayer who has income that...

The slab indicated in figure Q2 below is simply supported on two adjacent edges and fixed against rotation about the two other edges and is subjected to a uniformly distributed load of 115 kN/m2. The...

Salty Sensations Snacks Company manufactures three types of snack foods: tortilla chips, potato chips, and pretzels. The company has budgeted the following costs for the upcoming period: Factory...

The amount of net income kept in the corporation for future use, not distributed to stockholders as dividends, is termed as: Group of answer choices Net income Net profits Dividends Retained earnings

Discuss qualitative research designs in detail?