Which of the Following Must Be Paid by Both the Employee

question 83

Multiple Choice

Which of the following must be paid by both the employee and the employer?

• A)FICA taxes
• B)State unemployment tax
• C)State withholding tax
• D)Federal unemployment tax

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Definitions:

Accrual

Accrual is an accounting method where revenue and expenses are recorded when they are earned or incurred, regardless of when cash transactions occur.

Balance Sheet

A document showcasing a business's assets, liabilities, and owner's equity at a certain point in time.

Rent Paid

The amount of money paid by a tenant to a landlord for the use of property or space over a specified period.

Capital

The financial resources businesses use to fund their operations, including equity, debt, and retained earnings.