Which of the Following Statements Is Correct

question 38

Multiple Choice

Which of the following statements is correct?

• A)Social Security tax is employer paid only.
• B)The pay period always ends in conjunction with the company's fiscal year end.
• C)Many fringe benefits such as sick and vacation leave benefits should be recognized when the employee earns the benefit not when they take the leave.
• D)Unemployment taxes are paid by the employee only.

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Definitions:

Utility Function

A mathematical representation that assigns a level of utility or satisfaction to different bundles of goods, allowing preferences to be compared quantitatively.

Indifference Curve

A graph showing different bundles of goods between which a consumer is indifferent, meaning that the consumer has no preference for one bundle over the other.

Apples

Commonly refers to the fruit of the apple tree, but in economic terms, it can represent a simple, tangible commodity for analysis.

Bananas

A fruit that is long and curved with a soft, sweet flesh covered by a yellow peel when ripe, commonly consumed worldwide.