The First Step in Creating A(n) ____________________ Is to Select

question 124

Short Answer

The first step in creating a(n) ____________________ is to select the santent that you want to reuse.

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Definitions:

FICA-Medicare

The portion of the Federal Insurance Contributions Act (FICA) tax that is dedicated to Medicare, funding hospital insurance for individuals under the Medicare program.

FUTA Payable

The amount owed by an employer for the Federal Unemployment Tax Act to fund state workforce agencies and unemployment compensation for workers who have lost their jobs.

Journal Entry

A record in the accounting journal that represents a financial transaction and includes details such as date, amounts, accounts impacted.

Debit

A debit is an accounting entry that increases an asset or expense account or decreases a liability or equity account.