The employer records amounts deducted from employee payroll as liabilities until it pays them to the appropriate organizations.

Name: The employer records amounts deducted from employee payroll as liabilities until it pays them to the appropriate organizations.
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Question

Quizplus · Accepted Answer

This statement is true. Deductions such as taxes, insurance premiums, and retirement contributions are liabilities until they are paid to the appropriate organizations.

The Employer Records Amounts Deducted from Employee Payroll as Liabilities