The Purpose of ______________________________ Controls Is to Ensure That Entity

question 13

Short Answer

The purpose of ______________________________ controls is to ensure that entity resources are protected from loss, destruction, disclosure, copying, sale, or other misuse.

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Definitions:

FUTA Tax

A national levy charged to employers to finance state employment services and joblessness benefits.

Self-Employment Taxes

Taxes that self-employed individuals pay, covering Social Security and Medicare taxes, based on their net earnings.

Net Earnings

The amount of income left over after all deductions, including taxes, expenses, and allowances, have been subtracted from gross earnings.

SUTA Purposes

Relating to State Unemployment Tax Act, it's for state-level funding of unemployment benefits.