_____________________ Expresses a Line Item as a Percentage of Some

question 22

Short Answer

_____________________ expresses a line item as a percentage of some other line item for the same period.

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Definitions:

Warranty Repairs

Repairs or replacements offered for free by the manufacturer or seller to correct defects covered under a warranty.

Sales

The total amount of revenue generated from goods or services sold by a company.

Payroll Tax Expense

Taxes that are paid based on the salary and wages of employees, including social security, medicare, and federal and state unemployment taxes.

Social Security And Medicare Taxes

Mandatory payroll taxes collected from employers and employees in the United States to fund the Social Security and Medicare programs.