All of the Following Statements Regarding FICA Taxes Are True

question 34

Multiple Choice

All of the following statements regarding FICA taxes are true except:

• A) The amount of FICA deducted from the employee is credited to a liability account.
• B) FICA taxes are deducted from the employee.
• C) Employers must pay withheld FICA taxes to the IRS.
• D) A self-employed person is exempt from FICA taxes.
• E) An employer must pay FICA taxes equal to the amount withheld from the employee.

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Definitions:

Nucleus

A membrane-bound organelle found in eukaryotic cells that contains most of the cell's genetic material and regulates gene expression and cell division.

Chloroplast

The organelle found in plant cells and some algae that is responsible for photosynthesis.

Plant Cell

The basic structural and functional unit of plants, characterized by a cell wall, chloroplasts, and a large central vacuole.

Peptidoglycan

A complex polymer that forms a mesh-like layer outside the plasma membrane of most bacteria, providing structural support and shape.