Which of the following statements about payroll liabilities is correct?
A)Accrued payroll includes liabilities required by law or voluntarily requested by employees that have not yet been paid (or remitted).
B)Only employees are required to pay FICA taxes.
C)Both employers and employees are required to pay unemployment taxes.
D)Accrued payroll liabilities do not include any voluntary deductions by employees for charitable contributions or union dues.

Question

Quizplus · Accepted Answer

Accrued Payroll includes Salaries and Wages Payable,payroll deductions,and employer payroll taxes.Payroll deductions are either required by law (including federal,state,county,and city income tax and FICA taxes)or voluntarily requested by employees (including voluntary deductions for charitable donations,parking,union dues,retirement savings,etc. ).Like their employees,all employers are required to pay FICA taxes.Only employers are required to pay unemployment taxes.

Which of the Following Statements About Payroll Liabilities Is Correct