For the Last 6 Years,Mega Big Box Stores Has Utilized

question 38

Multiple Choice

For the last 6 years,Mega Big Box Stores has utilized programmers at its headquarters to maintain its online retail operation.As the size of the online business grew,Mega changed the status of the programmers who maintain the website from employees to contractors.For the past 3 years all new programmers brought on board have signed documents classifying them as independent contractors.Some of the programmers brought a court case regarding their status and got a verdict that they were misclassified.

• A)The Internal Revue Service (IRS)can hold Mega liable for its share of Social Security (FICA),and federal unemployment compensation (FUTA)taxes that it did not withhold from the programmers' compensation.
• B)The IRS can subject Mega to an additional penalty equal to 20 percent of the FICA that should have been withheld,plus.1.5 percent of the wages received by the employees.
• C)Mega may be found liable for accrued but unpaid benefits under the Employee Retirement Income Security Act of 1974 (ERISA).
• D)All of the above

Learn about the mechanisms of cash sources and uses and their impact on a firm's liquidity.

Understand the significance of financial ratios in evaluating a company's performance and financial health.

Comprehend the importance of timing and management decisions on financial metrics and performance evaluations.

Apply special product patterns to simplify polynomial expressions.

---

Definitions:

Upper Classes

Social groups occupying the top positions in a hierarchy, often associated with wealth, heritage, or nobility.

British Soldiers

Members of the United Kingdom's military forces, particularly those who served in the British Army, known for their roles in various global conflicts and peacekeeping missions throughout history.

Revolutionary War

A war fought from 1775 to 1783 in which the American colonies gained independence from British rule, marking the birth of the United States.

European Powers

Refers to the major sovereign states in Europe that have been influential in global affairs, including in the colonization, exploration, and political and economic spheres.