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Match the Description with the Accounting Terms

Question 88

Matching

Match the description with the accounting terms.

Premises:

Responses:

Preprinted government form submitted with Forms W-2 to the Social Security Administration

Employer's Annual Federal Unemployment Tax Return, Form 940

A system that rewards an employer for maintaining steady employment conditions by reducing the firm's state unemployment tax rate

Employer's Quarterly Federal Tax Return, Form 941

Preprinted government form that contains information about an employee's earnings and tax withholdings for the year

Experience rating system

A program that provides unemployment compensation through a tax levied on employers

Merit rating system

Preprinted government form used by the employer to report payroll tax information relating to social security, Medicare, and employee income tax withholding to the Internal Revenue Service

Transmittal of Wage and Tax Statements, Form W-3

Preprinted government form used by the employer to report unemployment taxes for the calendar year

Unemployment insurance program

Another term for Wage and Tax Statement, Form W-2

Wage and Tax Statement, Form W-2

Another term for Experience rating system

Withholding statement

Premises:

Preprinted government form submitted with Forms W-2 to the Social Security Administration

A system that rewards an employer for maintaining steady employment conditions by reducing the firm's state unemployment tax rate

Preprinted government form that contains information about an employee's earnings and tax withholdings for the year

A program that provides unemployment compensation through a tax levied on employers

Preprinted government form used by the employer to report payroll tax information relating to social security, Medicare, and employee income tax withholding to the Internal Revenue Service

Preprinted government form used by the employer to report unemployment taxes for the calendar year

Another term for Wage and Tax Statement, Form W-2

Another term for Experience rating system

Responses:

Employer's Annual Federal Unemployment Tax Return, Form 940

Employer's Quarterly Federal Tax Return, Form 941

Experience rating system

Merit rating system

Transmittal of Wage and Tax Statements, Form W-3

Unemployment insurance program

Wage and Tax Statement, Form W-2

Withholding statement

Correct Answer:

Premises:

Responses:

Preprinted government form submitted with Forms W-2 to the Social Security Administration

A system that rewards an employer for maintaining steady employment conditions by reducing the firm's state unemployment tax rate

Preprinted government form that contains information about an employee's earnings and tax withholdings for the year

A program that provides unemployment compensation through a tax levied on employers

Preprinted government form used by the employer to report payroll tax information relating to social security, Medicare, and employee income tax withholding to the Internal Revenue Service

Preprinted government form used by the employer to report unemployment taxes for the calendar year

Another term for Wage and Tax Statement, Form W-2

Another term for Experience rating system