Assume the Following Data for Jay's Cutlery for the Quarter

question 27

Multiple Choice

Assume the following data for Jay's Cutlery for the quarter ended March 31, 2022: $$\begin{array}{ll}\text {employee FICA tax }&\text {\$16,000 }\\\text { federal income tax }&42,000\\\text {state income taxes }&4,200\\\text { employer FICA tax}&16,000\\\text { federal unemployment tax}&850\\\text {state unemployment tax}&7,650\end{array}$$ The total taxes reported on Form 941 and paid for the first quarter are

• A) $16,000.
• B) $58,000.
• C) $58,850.
• D) $74,000.

---

Definitions:

Representative Sample

A part of a population that precisely mirrors the characteristics of the whole population.

Random Sample

A random sample is a method of selecting a subset of individuals from a statistical population, where each individual has an equal chance of being chosen, ensuring representation.

Convenience Sample

A sampling method where participants are selected based on their easy availability and proximity to the researcher.

Representative Sample

A subset of a population that accurately reflects the members of the entire population, used in statistical analysis.