A Characteristic of FUTA Is That

question 75

Multiple Choice

A characteristic of FUTA is that:

• A)It is imposed on both employer and employee.
• B)It is imposed solely on the employee.
• C)Compliance requires following guidelines issued by both state and Federal regulatory authorities.
• D)It is applicable to spouses of employees but not to any children under age 18.
• E)None of the above.

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Definitions:

Accounts Used

Specific accounts utilized in accounting to record and track financial transactions.

Equity

The value of an asset after deducting the amount of liabilities or the ownership interest in a company.

Revenues

Sum of income from the primary business activities of a company, which includes sales of its products or services.

Unearned Revenues

Money received by a company for goods or services that have yet to be delivered or performed, considered a liability until earned.