Which of the following statements regarding payroll liabilities is true?
A)Accrued payroll includes such liabilities as retirement and health benefits that are not yet paid.
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 liabilities like retirement and health benefits that have been earned by employees but not yet paid by the employer.

Which of the Following Statements Regarding Payroll Liabilities Is True