Which of the Following Largely Eliminated the Wide Variation of Legal

question 35

Multiple Choice

Which of the following largely eliminated the wide variation of legal regulation from the country's payments system?

• A)Federal Reserve Act of 1913
• B)Uniform Commercial Code of 1958
• C) National Banking Act of 1864
• D) Expedited Funds Availability Act of 1987

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Definitions:

FUTA Tax

The Federal Unemployment Tax Act (FUTA) tax is a payroll tax paid by employers to fund state workforce agencies and unemployment insurance.

State Unemployment Taxes

Taxes paid by employers to their state government to fund unemployment insurance benefits for workers who have lost their jobs.

Payroll Tax

Taxes imposed on employers or employees, usually calculated as a percentage of the salaries that employers pay their staff.

Schedule H

A form filed with the IRS to report taxes owed on wages paid to a household employee.