Identify the Class in Which Quality Merchandise Is Most Prized

question 1

Multiple Choice

Identify the class in which quality merchandise is most prized and prestige brands are commonly sought.

• A) Middle class
• B) Upper Americans
• C) Working class
• D) Lower Americans

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Definitions:

Payroll Taxes Expense

Taxes that employers are required to pay based on the wages and salaries of their employees, such as Social Security and Medicare taxes.

FICA Tax

A U.S. federal payroll tax used to fund Social Security and Medicare, distributed between employees and employers.

FUTA Tax

A United States federal tax levied on employers to fund state workforce agencies and unemployment benefits.

SUTA Tax

State Unemployment Tax Act; a tax that employers are required to pay to the state government to fund unemployment benefits for workers who lose their jobs.