The amounts that a business withholds as taxes from an employee's earnings:
A)Represent payroll taxes expense to the employer.
B)Are deposited in an interest-bearing account until the employee is terminated.
C)Represent miscellaneous revenue to the employer.
D)Represent current liabilities to the employer.

Question

Quizplus · Accepted Answer

The amounts withheld as taxes represent current liabilities to the employer, as they are funds that have been collected from the employee but not yet remitted to the government. The employer has a legal obligation to remit these funds on behalf of the employee.

The Amounts That a Business Withholds as Taxes from an Employee's