Examlex
The order cycle is composed of each of the following except:
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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