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To Keep Large Financial Firms from Behaving Recklessly and Endangering

question 75

Multiple Choice

To keep large financial firms from behaving recklessly and endangering the rest of the economy, the Dodd-Frank Wall Street Reform and Consumer Protection Act created the


Definitions:

Payroll Tax Expense

Levies placed on both employers and employees, determined based on a percentage of the wages that employers distribute to their workforce.

FICA Taxes Payable

Taxes owed for Federal Insurance Contributions Act, primarily for Social Security and Medicare, withheld from employees' paychecks.

Employer's Payroll Taxes

These are taxes that employers are required to pay on behalf of their employees, including Social Security and Medicare taxes in the United States.

Pension Rights

The entitlements employees earn towards future pension benefits as a result of their employment.

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