Which of the Following Items Must Exist in Every Employee's

question 52

Multiple Choice

Which of the following items must exist in every employee's payroll file?

• A)Spouse's social security number
• B)Employment history
• C)Spouse's birth date
• D)Occupation

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Definitions:

Regressive Tax

A taxation system where the tax rate decreases as the taxable amount increases, leading to a higher tax burden on lower-income individuals relative to higher-income individuals.

Progressive Tax

A tax system where the tax rate increases as the taxable amount or income increases, placing a larger burden on those who have the ability to pay more.

Federal Income Tax

A charge imposed by the US federal government on the yearly income of persons, companies, trusts, and various legal bodies.

Excise Tax

A tax on the sale or consumption of a specific product or service, often levied at the point of manufacture or sale.