Once an Amount Has Been Posted to the General Ledger

question 40

Multiple Choice

Once an amount has been posted to the general ledger account from the combination journal,what is entered in the "Post.Ref." column of the combination journal?

• A) the abbreviation "CJ"
• B) your initials
• C) a check mark
• D) the account number

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Definitions:

Employee Benefits Expense

Costs incurred by employers to provide benefits to employees, such as health insurance, pensions, and paid leave, beyond regular wages or salaries.

FICA Tax

Federal insurance contributions tax; a U.S. federal payroll tax imposed on both employees and employers to fund Social Security and Medicare.

FUTA Tax

The Federal Unemployment Tax Act tax, which employers pay to fund state workforce agencies.

SUTA Tax

State Unemployment Tax Act tax, a payroll tax that employers must pay to fund the government unemployment insurance program.