Which One of the Following Payroll Taxes Is Not Withheld

question 11

Multiple Choice

Which one of the following payroll taxes is not withheld from the employee's wages because it is not levied on the employee?

• A) Federal income tax
• B) Federal unemployment tax
• C) State income tax
• D) FICA tax

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Definitions:

Exchange Gains

arise from holding foreign currencies and result from favorable changes in exchange rates, leading to an increase in the domestic currency value of the foreign currencies held.

Foreign Currency

Currency used in a country other than one's own, implying the need for exchange rate conversion in international transactions or financial reports.

Exchange Rates

The rate at which one currency can be exchanged for another, affecting how international transactions are recorded in financial statements.

Accounts Payable

The amounts a company owes because it purchased goods or services on credit from a supplier or vendor.