All of the Following Are Employer Payroll Taxes Except

question 85

Multiple Choice

All of the following are employer payroll taxes except:

• A)Social Security tax equal to that withheld from employees.
• B)Medicare tax equal to that withheld from employees.
• C)State unemployment tax.
• D)Federal unemployment tax.
• E)Federal income tax equal to that withheld from employees.

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Definitions:

Salary Payroll

The total amount paid by an employer to its employees as salaries over a specified period.

Classified Balance Sheet

A balance sheet that groups assets, liabilities, and equity into subcategories for clearer understanding.

Long-Term Liability

Financial obligations of a business that are due more than one year in the future.

Adjusting Entries

Accounting record entries created at the conclusion of an accounting cycle to assign revenues and expenses to the time they truly took place.