Employers' Responsibilities for Payroll Do Not Include

question 171

Multiple Choice

Employers' responsibilities for payroll do not include:

• A) Recording an expense for the employee Federal Income Tax withholding.
• B) Filing Form 941, the Employer's Quarterly Federal Tax Return.
• C) Providing each employee with an annual report of his or her wages subject to FICA and federal income taxes along with the amount of these taxes withheld.
• D) Maintaining individual earnings records for each employee.
• E) Filing Form 940, the Annual Federal Unemployment Tax Return.

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Definitions:

Fiscal Policy

A government's strategy for managing its budget, including taxation and spending decisions, to influence the economy.

Aggregate Demand Curve

A graphical representation showing the overall demand for goods and services in an economy at various price levels.

Discretionary Fiscal Policy

Fiscal policy based on judgment by policymakers rather than set by predetermined rules, aiming to influence demand through changing government spending and taxation.

Clinton

A reference to Bill Clinton, the 42nd president of the United States, serving from 1993 to 2001, known for economic policies leading to budget surpluses and welfare reform.