Twinte Cars, a California corporation, has internal corporate requirements that stipulate a three-year payroll document retention period. They enter into a contract with an international company that mandates a six-year payroll document retention requirement. How should Twinte Cars balance these requirements? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)

the shorter period is more cost effective

the period for retention could be up to 8 years depending upon the circumstances.

the benefits and records may be called to evidence

Question

Alfredo Curry

Business

21 May, 19:01

Twinte Cars, a California corporation, has internal corporate requirements that stipulate a three-year payroll document retention period. They enter into a contract with an international company that mandates a six-year payroll document retention requirement. How should Twinte Cars balance these requirements? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)

the shorter period is more cost effective

the period for retention could be up to 8 years depending upon the circumstances.

the benefits and records may be called to evidence

+4

Answers (2)

Know the Answer?

Brylee Blair · Answer 1

The period for retention could be up to 8 years depending upon the circumstances The benefits and records may be called to evidence

Explanation:

Twinte cars with a internal corporate requirement of a three-year payroll document retention period going into contract with an international company which is mandating them to upgrade their three-year payroll document retention period to 6 years.

out of the given options Twinte cars can either increase the retention period to 8 years depending on the circumstances in order to accommodate the 6 years been mandated or they can present the benefits and records of the 3 year payroll document retention period which they already have to the international company.

Miguel Ryan · Answer 2

Twinte Cars should adopt the longer retention period (6 years) in order to satisfy the record retention requirements of the contract.

Explanation:

Twinte is signing a contract and if one of the requirements is to adopt a longer retention period for payroll documentation, refusing to do it is not very smart. It is like drowning on a glass of water. Of course it will cost more to keep records longer, but many times this types of requirements are mandatory in foreign countries, and the whole operation might be dismissed if they are not fulfilled. So, is the extra cost so big that it offsets any potential profits? I really do not think so, it is actually something relatively easy to carry out.