A Direct Relationship Is a Relationship Between Any Two Variables

question 54

True/False

A direct relationship is a relationship between any two variables, Y and X, such that the value of Y is uniquely determined whenever the value of X is specified (only Y exists for each X).

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Definitions:

Withholding Allowances

Claims made by employees on their W-4 form to reduce the amount of federal income tax withheld from their paychecks.

Tax Liability

The total amount of tax owed by an individual or corporation to the tax authorities.

Monthly Schedule Depositor

A designation for businesses that determines how frequently they must deposit employment taxes to the IRS based on their payroll size.

Semiweekly Schedule Depositor

A designation for businesses that must deposit payroll taxes on a semiweekly basis, determined by the amount of their tax liability.