Services Are Often Knowledge-Based

question 49

Essay

Services are often knowledge-based. Provide two examples, and explain why they are knowledge-based.

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Definitions:

Withheld

pertains to the portion of an employee's income that an employer retains as a prepayment for taxes to the government.

FUTA

Federal Unemployment Tax Act, a United States federal law that imposes a payroll tax on employers to fund state workforce agencies.

Withheld

Refers to a portion of an employee's wages or salary that is not immediately paid out but is instead held back, commonly for tax purposes.

Matched by Employer

Contributions made by an employer to match the amount an employee contributes to their retirement plan or similar benefit program.