All of the Following Statements Regarding FICA Taxes Are True

question 146

Multiple Choice

All of the following statements regarding FICA taxes are true except:

• A)FICA taxes are deducted from the employee.
• B)Employers must pay withheld FICA taxes to the IRS.
• C)The amount of FICA deducted from the employee is credited to a liability account.
• D)A self-employed person is exempt from FICA taxes.
• E)An employer must pay FICA taxes equal to the amount withheld from the employee.

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Definitions:

Antinuclear Antibodies

Antibodies directed against the cell nucleus, often found in autoimmune diseases.

Abbreviation

A shortened form of a word or phrase, used to simplify lengthy wording.

Acquired Immunodeficiency Syndrome

A disease impacting the human immune system caused by the HIV virus, leading to decreased resistance to other diseases and infections.

Meaning

The significance, definition, or purpose of something, especially in language and communication.