Matching
Match each of the appropriate definitions with correct term.
Premises:
A seller's obligation to replace or fix a product or service that fails to perform as expected within a specified period.
A measure provided by a state to employers that reflects a company's stability in employing workers.
A table of amounts of income tax to be withheld from employees' wages.
Taxes that fund Social Security and Medicare, assessed on both employer and employees under the Federal Insurance Contributions Act.
Known obligations of an uncertain amount that can be reasonably estimated.
A potential obligation that depends on a future event arising from a past transaction.
Payroll taxes on employers assessed by the federal government to support the federal unemployment insurance program.
A number indicated on an employee's Form W-4 that is used to reduce the amount of federal income tax withheld from an employee's pay.
Obligations of a company requiring payment after one year or operating cycle if longer.
Gross pay less all tax and voluntary deductions.
Responses:
FICA taxes
Wage bracket withholding table
Net pay
Merit rating
Withholding allowance
Warranty
Long-term liability
Contingent liability
Estimated liability
FUTA taxes
Correct Answer:
Premises:
Responses:
A seller's obligation to replace or fix a product or service that fails to perform as expected within a specified period.
A measure provided by a state to employers that reflects a company's stability in employing workers.
A table of amounts of income tax to be withheld from employees' wages.
Taxes that fund Social Security and Medicare, assessed on both employer and employees under the Federal Insurance Contributions Act.
Known obligations of an uncertain amount that can be reasonably estimated.
A potential obligation that depends on a future event arising from a past transaction.
Payroll taxes on employers assessed by the federal government to support the federal unemployment insurance program.
A number indicated on an employee's Form W-4 that is used to reduce the amount of federal income tax withheld from an employee's pay.
Obligations of a company requiring payment after one year or operating cycle if longer.
Gross pay less all tax and voluntary deductions.
Premises:
A seller's obligation to replace or fix a product or service that fails to perform as expected within a specified period.
A measure provided by a state to employers that reflects a company's stability in employing workers.
A table of amounts of income tax to be withheld from employees' wages.
Taxes that fund Social Security and Medicare, assessed on both employer and employees under the Federal Insurance Contributions Act.
Known obligations of an uncertain amount that can be reasonably estimated.
A potential obligation that depends on a future event arising from a past transaction.
Payroll taxes on employers assessed by the federal government to support the federal unemployment insurance program.
A number indicated on an employee's Form W-4 that is used to reduce the amount of federal income tax withheld from an employee's pay.
Obligations of a company requiring payment after one year or operating cycle if longer.
Gross pay less all tax and voluntary deductions.
Responses:
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