Activity Attributes Are Financial and Nonfinancial Information Items That Describe

question 27

True/False

Activity attributes are financial and nonfinancial information items that describe individual activities.

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Definitions:

W-3 Form

An IRS tax form used in the United States to transmit a summary of all W-2 forms issued by an employer to the Social Security Administration.

FICA-OASDI

The portion of Social Security tax collected under the Federal Insurance Contributions Act, dedicated to funding the Old Age, Survivors, and Disability Insurance program.

Employees' Contribution

The portion of earnings that workers contribute to designated plans, such as retirement savings or health insurance.

Retirement Fund

A savings account specifically set aside for the purpose of retirement income.