Examlex
Which of the following definitions is FALSE?
Employer Payroll Taxes
Employer payroll taxes are taxes that an employer is required to pay on behalf of their employees, including Social Security and Medicare taxes in the United States.
FICA Taxes
Taxes imposed on both employees and employers to fund Social Security and Medicare, based on a percentage of payroll.
Federal Income Taxes
The taxes levied by the IRS on the annual earnings of individuals, corporations, trusts, and other legal entities.
Operating Cycle
The average time period between purchasing or acquiring inventory and receiving cash from sales of the inventory.
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