Which Type of Plans Are Typically Set by Higher Management

question 47

Multiple Choice

Which type of plans are typically set by higher management and are expected to be in operation for two to five years?

• A)standing plans
• B)single-use plans
• C)short-range plans
• D)long-range plans

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Definitions:

SUTA

State Unemployment Tax Act, a payroll tax paid by employers based on the state unemployment insurance rates and the taxable wages of their employees.

FICA Taxes

Federal Insurance Contributions Act taxes, which are payroll taxes in the United States used to fund Social Security and Medicare programs.

OASDI

Old-Age, Survivors, and Disability Insurance; a comprehensive federal benefits program that provides benefits to retirees, disabled people, and survivors of deceased workers.

Medicare

A federal health insurance program in the United States for people aged 65 and over, as well as for certain younger people with disabilities.