In Describing FICA Taxes,which (If Any)of the Following Statements Is

question 41

Multiple Choice

In describing FICA taxes,which (if any) of the following statements is incorrect?

• A)The base amounts for 2015 probably will increase from the 2014 amounts.
• B)The base amounts for the Social Security and Medicare portions are the same.
• C)If both spouses work,excess FICA taxes need not result.
• D)Excess FICA taxes can be claimed as an income tax credit.
• E)None of these.

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Definitions:

Systems-Oriented View

An approach that considers the organization as a system composed of interrelated and interdependent parts, focusing on how changes in one part affect the whole.

Staffing Activities

Staffing Activities involve the process of recruiting, selecting, hiring, and training employees to fill various roles within an organization.

Highly Skilled

Describes individuals or workers who possess a high level of expertise, education, or training in a specific area or profession.

Psychological Contract

The unwritten, implicit expectations and beliefs about the employment relationship between an employer and their employees.