If the Limit for Social Security (6

question 48

Multiple Choice

If the limit for Social Security (6.2%) is $113,700 and Medicare (1.45%) is applied to all earnings and Sally Reena's gross earnings this pay period are $7,300, with cumulative earnings prior to this pay period of $112,460, the amount of tax is

• A)Social Security, $452.60; Medicare, $105.85.
• B)Social Security, $0; Medicare, $0.
• C)Social Security, $76.88; Medicare, $105.85.
• D)Social Security, $0; Medicare, $17.98.
• E)Social Security, $76.88; Medicare, $17.98.

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Definitions:

Accumulation

The gradual gathering or collecting of items, substances, or wealth over time.

Chronological Age

The measure of a person's age based on the calendar date of birth, regardless of their maturity or developmental stage.

National Values

Fundamental beliefs, principles, and practices that are universally recognized and upheld within a specific nation, shaping its culture and identity.

Specific Genes

Particular sequences of DNA that determine distinct traits or characteristics in an organism, influencing various aspects of its biology.