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Categories >> Accounting >> CompanyAffairs CS
 
 


 

 
 Audit interview questions  Audit Interview Questions (427)
 CompanyAffairs CS interview questions  CompanyAffairs CS Interview Questions (158)
 Taxation interview questions  Taxation Interview Questions (1897)
 Accounting General interview questions  Accounting General Interview Questions (2806)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4359)
Question
what is deferred profit ?
 Question Submitted By :: CompanyAffairs-CS
I also faced this Question!!     Answer Posted By  
 
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
 
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
 
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 the Journal entry for Salaries outstanding? Giv an example. Cognizent 25
what are the processes for register's of ESIC any one suugest me please ?   3
if i want a c form from sale tax department and i have cst number. what would it cost to me.   2
WHAT DO U MEAN BY DIVIDENDS. WHAT IS THE TYPE OF DIVIDEND AND IS THIS PROFIT OR INTREST? Bank-Of-America 10
where will be effect the amount of depreciation in company final account? If it will effect in P&L A/c & Balance Sheet also than will amount be same in both sheet? IBM 10
stock transfer his company to company what is infact?   3
how does one calculate goodwill by super profit method   2
What is the difference between authorized capital and issued Capital of a private limited company incorporated in Hong Kong   3
what is by brs? Capital-IQ 43
"X" company paid the salaries to staff. Then what are the entry? Is debiting the employee A/c, or Salary A/c? If salary A/c debited, how we can find if "a" employee salary paid or not? If we debiting the employee A/c, how to find how much amount we paid for salaries?   2
If you have a charitable parent company, limited by guarantee, and a trading subsidiary, which is also a company, which accounts will have to be prepared for the parent company?   1
 
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