If on Any Day During the Month,an Employer Accumulates $100,000

question 7

Multiple Choice

If on any day during the month,an employer accumulates $100,000 or more in tax liability,the taxes must be deposited:

• A)By the next banking day.
• B)Before the close of the business day in which the liability occurs.
• C)By the last day of the week if the employer is a monthly depositor.
• D)By either the following Wednesday or Friday if the employer is a semiweekly schedule depositor.

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Definitions:

Physical Capital

Refers to tangible assets used in the production of goods and services, such as machinery, buildings, and tools.

Productivity

The measure of the efficiency of production, often defined as the ratio of output to inputs in the production process.

Constant Returns To Scale

A situation in production where an increase in the input of resources leads to a proportionate increase in output, resulting in no change in average costs.

Production Function

The relationship between the quantity of inputs used to make a good and the quantity of output of that good.