FIGURE AC 4-1 Referring to Figure AC 4-1 Above

question 24

Multiple Choice

FIGURE AC 4-1 Referring to Figure AC 4-1 above, to create this type of form, click the More Forms button in the Forms group on the ____ tab.

• A) File
• B) Create
• C) Home
• D) Format

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Definitions:

360-Day Year

An accounting convention that simplifies interest calculation by assuming twelve 30-day months, used mainly in financial markets.

FICA Tax

The Federal Insurance Contributions Act (FICA) tax is a U.S. federal payroll tax that funds Social Security and Medicare programs.

Social Security Tax

A payroll tax collected by governments to fund social security programs, typically a percentage of an employee's salary.

Medicare Tax

Medicare Tax is a federal payroll tax used to fund the Medicare program, which provides health insurance for eligible elderly and disabled individuals.