If an Employer Qualifies for a Lower State Unemployment Tax

question 72

True/False

If an employer qualifies for a lower state unemployment tax rate,this lowers the credit allowed in computing the federal unemployment tax due.

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Definitions:

Carrying Value

The amount at which an asset is recognized on the balance sheet after deducting accumulated depreciation and impairment losses.

Inventory

Goods and materials that a business holds for the ultimate goal of resale.

Declared Dividend

A dividend that has been announced by a company's board of directors to be paid to shareholders on a specified date.

Net Assets

The total value of a company’s assets minus its liabilities, indicating the actual worth of the company’s equity.