Examlex
When the Federal Reserve System was established in 1913,its main policy goal was
Wages and Salaries Expense
The cost incurred by a business to compensate its employees for their work, typically noted in the income statement.
Payroll Tax Expense
Total taxes, both employer and employee portions, associated with wages and salaries, including federal, state, and other payroll taxes.
Calendar Quarter
A three-month, 13-week time period. Four calendar quarters occur during a calendar year that runs from January 1 through December 31. The first quarter is January through March, the second is April through June, the third is July through September, and the fourth is October through December.
FICA-OASDI
Refers to the Federal Insurance Contributions Act's component for Old-Age, Survivors, and Disability Insurance, a payroll tax funding Social Security.
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