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Mark had an opportunity to attend a Boston Celtics vs Lakers game on the night before his organizational behavior final exam.He decided that he had studied enough by that time,and went off to enjoy the game with his friends.A week later,he discovered that he had gotten a grade of "D" on the final exam.Mark then concluded that the exam was so hard,his grade wouldn't have been any better even if he had studied more.Mark has probably just experienced:
Social Security Tax
A tax imposed on both employers and employees to fund the Social Security program, which provides retirement, disability, and survivorship benefits.
Medicare Tax
A federal tax that funds the Medicare program, deducted from the earnings of employees and matched by employers.
Unemployment Taxes
Taxes paid by employers to fund unemployment insurance programs, aiding workers who have lost their jobs.
Salaries Payable
An account containing the total amount of salary expense that has been incurred by a company but has not yet been paid out to employees.
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