Payroll Taxes Include All of the Following Except

question 50

Multiple Choice

Payroll taxes include all of the following except:

• A) federal income tax.
• B) state income tax.
• C) FICA-OASDI.
• D) All of the above are payroll taxes.

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Definitions:

Gross Profit Ratio

The proportion of money left over from revenues after accounting for the cost of goods sold.

FOB Shipping Point

A term that indicates the buyer is responsible for goods once they leave the seller's premises, including paying shipping costs and bearing the risk of loss in transit.

Record Revenue

The act of documenting the income earned by a company from its business activities during a specific period, following accounting principles.

Gross Margin Ratio

A financial metric that measures the difference between sales revenue and the cost of goods sold, expressed as a percentage of sales revenue.