Match Each of the Following Terms a Through J with the Appropriate

question 107

Short Answer

Match each of the following terms a through j with the appropriate definitions 1 - 10.
a. FUTA taxes
b. Contingent liability
c. Merit rating
d. Long-term liability
e. Estimated liability
f. Net pay
g. Wage bracket withholding table
h. Warranty
i. Withholding allowance
j. FICA taxes
_____ 1. A measure provided by a state to employers that reflects a company's stability in employing workers.
_____ 2. Taxes that fund Social Security and Medicare, assessed on both employer and employees under the Federal Insurance Contributions Act.
_____ 3. Known obligations of an uncertain amount that can be reasonably estimated.
_____ 4. Obligations of a company requiring payment in more than one year or operating cycle.
_____ 5. Gross pay less all tax and voluntary deductions.
_____ 6. A table of amounts of income tax to be withheld from employees' wages.
_____ 7. A potential obligation that depends on a future event arising from a past transaction.
_____ 8. A seller's obligation to replace or correct a product or service that fails to perform as expected within a specified period.
_____ 9. A number indicated on an employee's Form W-4 that is used to reduce the amount of federal income tax withheld from an employee's pay.
_____ 10. Payroll taxes on employers assessed by the federal government to support the federal unemployment insurance program.

Identify the impact of TQM principles on organizational performance.

Recognize the importance of continuous improvement and its methodologies in quality management.

Understand the significance of standards and certifications in quality management.

Appreciate the ethical considerations in managing quality of products and services.

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Definitions:

Real Rate Of Return

The annual percentage profit earned on an investment, adjusted for changes in the price level due to inflation or other external effects.

Inflation Rate

The general rise in prices across goods and services, resulting in a decrease in the ability to purchase.

Semiannual Coupon

A fixed interest payment on a bond that is made twice a year.

Yield To Maturity

The total return anticipated on a bond if it is held until it matures, including all paid interest and principal repayments.