STC Corporation's Enterprise Resource Planning System Contains a Cash Payments

question 48

Multiple Choice

STC Corporation's enterprise resource planning system contains a cash payments table, a cash receipts table and a cash table.Foreign keys in the cash receipts table would include: (i) customer ID, (ii) account number, (iii) cash receipt date.

• A)I and II only
• B)I and III only
• C)II and III only
• D)I, II and III

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Definitions:

Social Security Tax

A tax imposed by the government to fund the Social Security program, which provides retirement, disability, and survivorship benefits.

Personal Income Tax

A tax levied on individuals or households based on their income, including wages, dividends, and interest.

Regressive

This term usually applies to a tax system where the tax rate decreases as the taxable amount increases, placing a higher relative burden on lower-income earners.

Bush Tax Cuts

A series of temporary income tax relief measures enacted by President George W. Bush in 2001 and 2003, aimed at stimulating the US economy.