Which of the Following Deposit Requirements Pertains to a Nonagricultural

question 5

Multiple Choice

Which of the following deposit requirements pertains to a nonagricultural employer who has employer FICA taxes and withheld employee FICA taxes and income taxes of $125,000 at the end of payday on Friday, August 14, 20--?

• A) No deposit is required until Tuesday, August 18.
• B) The taxes must be deposited by the close of the next banking day.
• C) The taxes must be deposited on or before August 31.
• D) The undeposited taxes should be carried over to the end of September.
• E) None of the above.

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Definitions:

Sales Growth

This metric measures the increase in sales revenue over a specific period, indicating the business's ability to grow its operations and revenue.

External Financing

Funds that a business raises from outside sources to finance its operations or growth, such as loans or equity investments.

Dividend Payout

The part of a business's profits distributed to its shareholders as dividends.

Operating Capacity

The maximum output that a company can achieve using its production equipment under normal working conditions.