Identify and State the Historical Significance of the Following

question 111

Short Answer

Identify and state the historical significance of the following:
-Truman Doctrine

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Definitions:

FICA Tax

Federal Insurance Contributions Act tax, a U.S. tax that funds Social Security and Medicare, deducted from employees' paychecks and matched by employers.

Payroll Tax

Taxes imposed on employers or employees, and are usually calculated as a percentage of the salaries that employers pay their staff.

Federal Income Tax

A tax levied by the national government on an individual's or corporation's annual income.

Loss Contingencies

Potential losses that a company might incur if a certain event occurs, recognized in financial statements if the loss is probable and the amount can be reasonably estimated.