Which of These Is True About Single-Use Plans

question 86

Multiple Choice

Which of these is true about single-use plans?

• A) They are developed to achieve a set of goals that are unlikely to be repeated in the future.
• B) They are used to provide guidance for tasks performed repeatedly within the organization.
• C) They define plans that define company responses to specific situations, such as emergencies or setbacks.
• D) They are most important in the organizations.
• E) None of these

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Definitions:

Payroll Tax Liability

The obligation of employers to withhold and pay taxes on behalf of their employees, such as social security and Medicare taxes.

Authorized Depository

A financial institution authorized to accept deposits from individuals and businesses.

Form 941

Form 941 is a quarterly tax form that employers use to report income taxes, social security tax, or Medicare tax withheld from employees' paychecks.

Payroll Tax Depositor

An entity or individual responsible for depositing payroll taxes collected from employers and employees to the appropriate tax authorities.