Contingency Planning Is a Preview Method,a Way to Prepare a Response

question 103

True/False

Contingency planning is a preview method,a way to prepare a response to an imaginary set of otherwise unanticipated external forces.Without contingency planning the only response is after-the-fact in a reactive mode.

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Definitions:

Internal Revenue Service

The federal agency responsible for administering and enforcing tax laws in the United States.

Electronic Deposit Requirement

A requirement for businesses to use electronic means to deposit certain types of taxes, including payroll taxes, directly to the IRS or state tax agencies.

Electronic Funds Transfer

An Electronic Funds Transfer (EFT) is the electronic movement of money from one bank account to another, either within a single financial institution or across multiple institutions, through computer-based systems.

Percentage Method

A way of calculating federal income tax withholding using percentage tables based on an employee's taxable income and filing status.