A Tax Levied on the Amount of a Payroll or on the Amount

question 125

Multiple Choice

A tax levied on the amount of a payroll or on the amount of an employee's gross pay isa(n) :

• A)Payroll tax.
• B)Employee tax.
• C)Excess profits tax.
• D)Employer tax.
• E)Federal program.

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Definitions:

Segregation of Duties

A risk management practice that divides responsibilities among different individuals or teams to reduce the risk of error or fraud.

Collusion

A secret agreement or cooperation between two or more parties, often for a fraudulent or deceitful purpose, especially to cheat or deceive others.

NSF Cheques

Cheques that have been returned by a bank because the issuer's account does not have enough funds to cover the cheque.

Depositor's Account

An account maintained by a bank for an individual or a company, where the account holder can deposit and withdraw money.