Faith,the Accountant for Harris's Meats,filed Form 941 for the First

question 18

Multiple Choice

Faith,the accountant for Harris's Meats,filed Form 941 for the first quarter on May 12.The amount of taxes due to be paid with Form 941 was $8,975.The first failure to file notice was dated May 5.What is the amount that must be remitted,including the IRS penalty for the failure to file?

• A)$8,975.00
• B)$9,154.50
• C)$9,423.75
• D)$9,872.50

---

Definitions:

Fair Credit Reporting Act

A federal law in the United States designed to protect the accuracy, fairness, and privacy of consumer information contained in the files of consumer reporting agencies.

Consumer Credit Report

A document detailing an individual's credit history, used by lenders to assess creditworthiness for loans and credit.

Binding Credit Obligation

A legally enforceable promise or agreement that requires an individual or business to repay borrowed money or fulfill financial commitments.

Rescinds

To rescind is to revoke, cancel, or repeal a law, order, or agreement.