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Figure 21.3
Using the above figure, identify the labeled structure(s) in each of the following questions.
-Identify the structure(s) indicated by Label I.
Liabilities
Debts or duties a firm has towards third parties, necessitating repayment through the allocation of economic advantages over time.
Federal Unemployment Taxes
Taxes imposed on employers to fund the federal government's oversight and support of state unemployment insurance programs.
FUTA
The Federal Unemployment Tax Act (FUTA) is a United States federal law that imposes a payroll tax on employers to fund state workforce agencies.
Annually
Relating to a period of one year, typically used in the context of financial reporting, budgeting, or payments.
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