Some Schools Take the Approach That the Primary Customers for Their

question 26

Multiple Choice

Some schools take the approach that the primary customers for their business are ___________.

• A)Students
• B)Graduate schools
• C)Parents
• D)Companies that hire the students
• E)None of these

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Definitions:

FICA Tax Rate

The combined percentages for Social Security and Medicare taxes that employers and employees must pay based on wages or salaries.

Federal Income Taxes

Levies placed on the yearly income of persons, companies, trusts, and various legal bodies by the federal government.

Federal Unemployment Compensation Tax

A federal tax imposed on employers to fund state workforce agencies and unemployment insurance.

Payrolls Tax

Payrolls Tax is a tax imposed on employers based on the salary and wages paid to employees, which can encompass federal, state, and local taxes.