Management Science Techniques Can Be Applied Only to Business and Military

question 28

True/False

Management science techniques can be applied only to business and military organizations.

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Definitions:

Salaries And Wages Payable

A liability account that records the amounts owed to employees for work performed that has not yet been paid.

Taxes Payable

Current liabilities representing the amount of taxes owed to governmental authorities that have not yet been paid.

Federal Unemployment Taxes

Taxes imposed on the employer by the federal government that provide benefits for a limited time period to employees who lose their jobs through no fault of their own.

Payroll Tax Expense

Taxes that an employer pays related to the salaries and wages of employees, including social security tax, Medicare tax, and federal and state unemployment taxes.