A Characteristic of FICA Is That

question 24

Multiple Choice

A characteristic of FICA is that:

• A)It applies when one spouse works for the other spouse.
• B)It is imposed only on the employer.
• C)It provides a modest source of income in the event of loss of employment.
• D)It is administered by both state and Federal governments.
• E)None of the above.

Develop strategies for meaningful communication in diverse or multicultural contexts.

Understand the concept of cultural competency.

Assess the appropriate use of digital communication in confronting difficult situations at the workplace.

Understand generational preferences in workplace communication.

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Definitions:

Loan Endorsers

Individuals or entities that support or guarantee the repayment of a loan, thereby assuming the risk if the original borrower fails to repay.

Commercial Banks

Financial institutions that offer services such as accepting deposits, providing business loans, and offering basic investment products.

Credit Market

A financial market where borrowers can obtain funds from investors or lenders through the issuance of different types of debt instruments.

Prime Interest Rate

The interest rate that banks charge their most creditworthy customers, often used as a benchmark for setting rates on various types of loans and credit.