By January 31, Following the End of a Calendar Year

question 25

Multiple Choice

By January 31, following the end of a calendar year, an employer is required to provide each employee with a(n)

• A)state unemployment tax form.
• B)federal unemployment tax form 940.
• C)wage and tax statement form W-2.
• D)employee's withholding allowance certificate form W-4.

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Definitions:

Uniform Commercial Code

The Uniform Commercial Code is a comprehensive set of laws governing all commercial transactions in the United States.

Joint Proprietorship

A business ownership structure where two or more individuals share the ownership, responsibilities, and liabilities of the business.

Partnership

A business structure in which two or more individuals manage and operate a business in accordance with the terms and objectives set out in a Partnership Agreement.

Income Tax Return

A document filed with tax authorities detailing income earned, tax deductions taken, and taxes owed for the year.