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Categories >> Accounting >> CompanyAffairs CS
 
 


 

 
 Audit interview questions  Audit Interview Questions (422)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (157)
 Taxation interview questions  Taxation Interview Questions (1893)
 Accounting General interview questions  Accounting General Interview Questions (2782)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4351)
Question
what is deferred profit ?
 Question Submitted By :: Arka.tukai
I also faced this Question!!     Rank Answer Posted By  
 
  Re: what is deferred profit ?
Answer
# 1
A portion of company profits allocated by an employer, in
good years, to an employee’s trust.
Contributions on behalf of each employee are expressed as a
percentage of salary with 5% being common practice. If the
profit-sharing plan is a qualified plan according to the
IRS, employer contributions are tax deductible as a business
expense. These contributions are not currently taxable to
the employee; benefits are taxed at the time of distribution.
 
Is This Answer Correct ?    3 Yes 1 No
Sandeep.m
 
  Re: what is deferred profit ?
Answer
# 2
A portion of company profits allocated by an employer, in
good years, to an employee’s trust.
Contributions on behalf of each employee are expressed as a
percentage of salary with 5% being common practice. If the
profit-sharing plan is a qualified plan according to the
IRS, employer contributions are tax deductible as a business
expense. These contributions are not currently taxable to
the employee; benefits are taxed at the time of distribution.
 
Is This Answer Correct ?    2 Yes 0 No
Sandeep.m
 
 
 

 
 
 
Other CompanyAffairs CS Interview Questions
 
  Question Asked @ Answers
 
tally9 different erp?   1
what is exact difference between copy rights and patent rights? Capital-IQ 8
Sir, we have a machinery manufectred plant and now we want to ragistration in service tax what is the procedure for this pls help me in detal . we have ecc no. and tin no. already   1
what is bank of america Bank-Of-America 1
what is the difference between public company and private company TCS 12
what are all the things to be checked while consolidation of project/site accounts?   2
What is the percentage of DA to be cut from an employee salary ? ITC-Infotech 2
what are the processes for register's of ESIC any one suugest me please ?   3
what is surrender of shares?   7
what is the meaning of CTT   2
what is meant by TDS   2
what is holding company, explain brief?   5
 
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