-Refer to the Above Table

question 27

Multiple Choice

-Refer to the above table. Suppose the transactions in the table are added to a balance of payments account that is already in balance. What will have to take place to keep the balance of payments in balance?

• A) Nothing will have to be done as the accounts are in balance.
• B) Nothing will have to be done as the accounts are in equilibrium.
• C) The U.S. government will have to make official reserve transactions equal to $11,000.
• D) Foreign governments will have to make official reserve transactions equal to -$11,000.

Understand different search methods and their applicability to legal research.

Identify and utilize various online legal research tools and databases.

Grasp the concept of scope restriction in research and the use of Boolean modifiers.

Recognize the relevance of Supreme Court, federal appeals, and district court decisions in legal research.

---

Definitions:

FICA Taxes

Taxes collected under the Federal Insurance Contributions Act to fund Social Security and Medicare, required deductions from workers' paychecks.

Schedule H

Schedule H is a tax form used by household employers to report wages paid to household employees, such as nannies or housekeepers, and calculate Social Security, Medicare, and FUTA taxes.

Household Worker

An employee who performs domestic services in a private home, such as a nanny, maid, or gardener.

Form 1040

The official form provided by the Internal Revenue Service (IRS) that people use to submit their yearly income tax returns.