Which of the Following Is Used in the Determination of the Amount

question 48

Multiple Choice

Which of the following is used in the determination of the amount of federal income tax to be withheld from an employee per pay period? (You may select more than one answer. )

• A)Date of birth
• B)Period salary
• C)Marital status
• D)Prior year's tax return

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Definitions:

Mortgage Rate

The interest rate charged on a mortgage, typically expressed as an annual percentage.

GST

Goods and Services Tax, a type of value-added tax imposed on the majority of goods and services that are sold within the country for local use.

Supplies

Materials and goods held for use in the production process or office operations, often considered short-term assets in financial accounting.

GST and PST

Taxes applied to the sale of goods and services; GST is a federal tax in Canada, while PST is a provincial sales tax.