In QuickBooks, Budget Types Include

question 26

Multiple Choice

In QuickBooks, budget types include:

• A)Profit & Loss
• B)Balance Sheet
• C)All the above
• D)None of the above

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Definitions:

Employee Benefits Expense

Costs incurred by employers to provide benefits to employees, such as health insurance, pensions, and paid leave, beyond regular wages or salaries.

FICA Tax

Federal insurance contributions tax; a U.S. federal payroll tax imposed on both employees and employers to fund Social Security and Medicare.

FUTA Tax

The Federal Unemployment Tax Act tax, which employers pay to fund state workforce agencies.

SUTA Tax

State Unemployment Tax Act tax, a payroll tax that employers must pay to fund the government unemployment insurance program.