In 2017,Mike Elfred Received a $165,000 Salary from His Employer

question 83

Multiple Choice

In 2017,Mike Elfred received a $165,000 salary from his employer and generated $39,000 net earnings from self-employment from his small business.Which of the following statements is true?

• A)Mike does not owe any self-employment tax because his salary exceeded the 2017 base amount ($127,200)for federal employment tax.
• B)Mike owes both the Medicare and Social Security tax portions of self-employment tax on his $39,000 earnings from his small business.
• C)Mike owes Medicare tax but not Social Security tax on his $39,000 earnings from his small business.
• D)Mike owes Social Security tax but not Medicare tax on his $39,000 earnings from his small business.

Analyze different theories of learning and their principles regarding habit formation and change.

Investigate the influence of cognitive processes on motivation and learning.

Examine methods and techniques for modifying behaviors and habits.

Understand the concept of emotional intelligence and its application in interpersonal relationships.

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Definitions:

Transaction Date

The specific date on which a trade or financial transaction occurs, marking when the obligations for both parties in the transaction are established.

Settlement Date

The specific date on which a transaction is finalized or completed; for financial trades, it's when legal ownership is transferred.

Interest Expense

The cost incurred by an entity for borrowed funds, reflecting the interest payable on any type of debt for a specific period.

Foreign Exchange Risk

The potential for losses due to fluctuating foreign exchange rates affecting investments or transactions in foreign currencies.