Another Term for an Accounting System Accessed Via the Internet

question 24

Multiple Choice

Another term for an accounting system accessed via the Internet is:

• A)Internet portal
• B)Online access
• C)Hosted solution
• D)BRP system

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Definitions:

Journal Entry

A record in the accounting journals that documents a financial transaction.

FICA Taxes

Taxes imposed by the Federal Insurance Contributions Act, funding Social Security and Medicare programs, withheld from employees’ pay and matched by employers.

Medicare Taxes

Taxes collected from employees and employers to fund the Medicare program, which provides healthcare benefits to retirees.

State Income Taxes

Taxes imposed by individual states on the income generated by businesses and individuals within that state.