The Entry to Record the Payment of Taxes Withheld from Employees

question 26

Multiple Choice

The entry to record the payment of taxes withheld from employees and FICA taxes would be to:

• A)credit Cash; debit FICA-Social Security Payable,FICA-Medicare Payable,and Federal Income Tax Payable.
• B)debit Cash; credit FICA-Social Security Payable,FICA-Medicare Payable,and Federal Income Tax Payable.
• C)credit Cash; credit FICA-Social Security Payable,FICA-Medicare Payable,and Federal Income Tax Payable.
• D)None of these answers are correct.

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Definitions:

Cultural Views

The perspectives and values shared by a group that influence behaviors, attitudes, and practices.

Implicit Leadership Theory

Implicit Leadership Theory suggests that people have preconceived notions or stereotypes about the traits and behaviors that characterize effective leaders, which influence their perception of leadership.

Trait Approach

A theory of leadership that suggests certain inherited characteristics or personal attributes make a good leader.

Leadership Approach

Refers to the theories and styles adopted by leaders in guiding, influencing, and managing groups or organizations, ranging from autocratic to democratic, transformational to transactional.