In the US, Which of the Following Are the Two Most Important

question 67

Multiple Choice

In the U.S., which of the following are the two most important sources of contract law?

• A) Case law and the Restatement of Law, Contracts.
• B) Case law and the Uniform Commercial Code.
• C) The Uniform Commercial Code and the United Nations Convention on Contracts for the International Sale of Goods.
• D) Case law and the United Nations Convention on Contracts for the International Sale of Goods.
• E) The United Nations Convention on Contracts for the International Sale of Goods and the Restatement of the Law, Contracts.

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Definitions:

Medicare Tax

A federal payroll tax that funds Medicare, the health insurance program for individuals aged 65 and over, as well as for some younger people with disability status as determined by the Social Security Administration.

Payroll Period

The interval of time for which an employee's wages are calculated, such as weekly, bi-weekly, or monthly.

Salaries Payable

An account that represents the amounts owed but not yet paid to employees for services rendered.

Payroll Register

A comprehensive record detailing the amounts paid to employees for services rendered during a specific period.