Lee Loren Has Cumulative Earnings of $6,750 and Earned $745

question 22

Multiple Choice

Lee Loren has cumulative earnings of $6,750 and earned $745 during the current pay period. If the FUTA tax rate is 0.6 percent, with a ceiling of $7,000, the employer payroll tax expense for FUTA is

• A) $54.00.
• B) $5.96.
• C) $0.
• D) $1.50.
• E) $15.00.

Understand the role of government agencies in protecting consumer rights and the specific functions of these agencies.

Understand the various elements of business activity and their interconnections.

Distinguish between tangible and intangible products.

Grasp the economic issues of supply and demand, including understanding limited resources.

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Definitions:

Genes

The basic physical and functional units of heredity, made up of DNA, which determine specific characteristics by encoding proteins.

Recessive Genes

Genes that are not expressed in the phenotype unless two copies are present, one from each parent.

Dominant Gene

A gene that expresses its phenotype in the presence of another allele, overshadowing recessive genes when only one copy is present.

Anterior Pituitary

The front portion of the pituitary gland, which secretes hormones that regulate a wide range of bodily functions, including growth and reproduction.