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For each of the following independent statements, choose the best answer.
-The entity has a legal identity separate from its beneficiaries.
SUTA Taxes
State Unemployment Tax Act taxes that employers pay to provide unemployment benefits to workers who lose their jobs.
FUTA Taxes
Federal unemployment taxes employers must pay, contributing to the US government's fund to support those unemployed.
Current Liability
A company's debt or obligations that are due within one year.
Recognized Revenues
This accounting concept refers to revenues that have been earned (goods or services have been delivered), and there is a reasonable certainty of collection.
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