Exhibit 20-1 -According to the Data in Exhibit 20-1, Aggregate Hours Equal

question 165

Multiple Choice

Exhibit 20-1

-According to the data in Exhibit 20-1, aggregate hours equal

• A)252 billion.
• B)351 billion.
• C)234 million.
• D)252 million.
• E)234 billion.

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Definitions:

EIN

An Employer Identification Number, issued by the IRS, used for identifying a business entity and for tax filing purposes.

Form SS-4

The form filled out by an employer to get an EIN. The form is sent to the IRS, which assigns the number to the business.

Payroll Tax Expense

Tax that a business must pay based on the wages and salaries of its employees, including social security, Medicare, and unemployment taxes.

FICA

The Federal Insurance Contributions Act, which funds Social Security and Medicare, requiring employers and employees to pay a percentage of earnings.