Accrued Expenses Are Ordinarily Reported on the Balance Sheet as

question 166

Multiple Choice

Accrued expenses are ordinarily reported on the balance sheet as

• A) assets
• B) liabilities
• C) fixed assets
• D) prepaid expenses

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Definitions:

SUTA

Refers to the State Unemployment Tax Act, a tax imposed by individual states on employers to fund unemployment benefits.

Tax Form 940

A form used in the United States to report annual Federal Unemployment Tax Act (FUTA) tax details about employees, applicable to employers who paid wages of $1,500 or more in any quarter or had one or more employees for at least part of a day in 20 or more different weeks.

W-3

A tax form used in the United States to transmit wage and tax information from employers to the Social Security Administration.

Transmittal

The process or document involved in sending something from one person or place to another.