What Is the Only State That Requires Employee Contributions Under

question 15

Multiple Choice

What is the only state that requires employee contributions under the Federal Unemployment Tax Act (FUTA) ?

• A)Michigan
• B)Florida
• C)Alaska
• D)California

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Definitions:

Creditors

Individuals or institutions that lend money or extend credit to others, expecting repayment in the future.

Financial Accounting

Financial accounting is the process of recording, summarizing, and reporting a company's transactions to provide an accurate picture of its financial position and performance.

Contract Terms

The specific provisions and agreements outlined in a contract that dictate the rights and obligations of each party involved.

Financial Statements

Documents that provide an overview of a company's financial condition, including income statement, balance sheet, statement of cash flows, and statement of retained earnings, used by stakeholders to assess financial health.