Which of the Following Best Describes the Purpose of a Founding

question 31

Multiple Choice

Which of the following best describes the purpose of a founding team?

• A)to brainstorm business ideas, finding one that will be most profitable
• B)to build and grow the company and provide economic and social return
• C)to fund the business and create its business structure
• D)to finalize the business product or service

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Definitions:

FUTA

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

SUTA

SUTA, or State Unemployment Tax Act, is a taxation mechanism in the United States that mandates employers to pay a tax to fund unemployment benefits for workers who lose their jobs.

FICA-Social Security

The portion of the Federal Insurance Contributions Act tax that funds the Social Security program, providing benefits for retirees and disabled individuals.

FICA-Medicare

A federal tax in the United States deducted from employees' paychecks to fund the Medicare program, which provides health coverage to eligible elderly and disabled individuals.