Examlex
Which of the following statements is LEAST-Likely true?
Gross Payroll
The total amount of money paid by an employer to its employees before deductions such as taxes, retirement contributions, and health insurance.
Federal Unemployment Tax Rate
A tax rate set by the federal government to fund unemployment compensation payments to workers who have lost their jobs.
Salaries Payable
Salaries payable is an account that records the amounts owed to employees for work performed but not yet paid.
Employer's Payroll Tax Expense
Taxes that employers are required to pay on behalf of their employees, such as Social Security and Medicare taxes, often based on a percentage of the employees' wages.
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