If a Contract Does Not State the Method of Payment,which

question 21

Multiple Choice

If a contract does not state the method of payment,which of the following is likely to be unacceptable?

• A)Foreign currency
• B)Cash
• C)Check
• D)Credit card

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Definitions:

Federal Unemployment Taxes

Taxes imposed by the federal government on employers to fund state workforce agencies and unemployment insurance for workers who have lost their jobs.

State Unemployment Taxes

Taxes paid by employers to provide funding for unemployment compensation benefits for workers who have lost their jobs.

FICA Social Security Taxes

Taxes collected under the Federal Insurance Contributions Act (FICA) to fund the Social Security program, which provides benefits for retirees, the disabled, and children of deceased workers.

FICA Medicare Taxes

A specific portion of the FICA tax that is dedicated to funding Medicare, the U.S. government's health insurance program for seniors.