A Special Bank Account Used Solely for the Purpose of Paying

question 59

Multiple Choice

A special bank account used solely for the purpose of paying employees is created by depositing the amount of each employees' net pay into the account every pay period.This account is referred to as a(n) :

• A)Federal depository bank account.
• B)Employee's individual earnings account.
• C)Employees' bank account.
• D)Payroll register account.
• E)Payroll bank account.

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Definitions:

Debt Issue

The act of a company raising money through the sale of bonds or other fixed-income securities.

Tax Rate

The percentage at which an individual or corporation is taxed. The tax rate may vary based on income level, type of income, or other factors.

IOS

Stands for Input/Output System or alternatively, iOS, Apple Inc.'s mobile operating system used for its iPhones and iPads, depending on context.

IRRs

The Internal Rate of Return is a financial measurement utilized to assess the projected profitability of future investments.