Many Larger Businesses Are Deciding That Manufacturing Is Not Their

question 1

Multiple Choice

Many larger businesses are deciding that manufacturing is not their specialty, so they are doing which of the following?

• A) changing the products they make
• B) exporting the necessary parts
• C) giving out production contracts to smaller businesses and letting them provide the parts
• D) hiring manufacturing experts to help increase their skills in that area

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Definitions:

Withholding Allowances

Allowances claimed on employment forms determining the amount of federal income tax withheld from a paycheck.

Federal Withholding

The portion of an employee's wages that is withheld by the employer for the purpose of paying federal income taxes.

Supplemental Wages

Additional compensation received beyond one's regular wages, such as bonuses, commissions, or overtime pay, often subject to different tax withholding rates.

FICA Taxes

Taxes levied on both employees and employers to fund Social Security and Medicare.