Salaries Expense is debited to record the employer's FICA contributions and the FUTA and SUTA taxes. a. True b. False Is this statment true or false?

If an employer does not deduct taxes and contribution from an employee. The employee has the ultimate responsibility to pay the taxes to the Revenue and the Revenue will penalize the employee.  true or false

What is a key requirement for filing individual income tax returns? a) Providing proof of employment history b) Reporting all sources of income c) Submitting bank statements d) Listing personal expenses

How do you calculate total deductions on payroll register?

What information is necessary to record payroll transactions? Which account is used to record an employee’s net pay? What features does QBO offer for Payroll?

Which of the following taxes is paid by the employee and the employer? a.SUTA b.Federal withholding taxes c.FUTA d.FICA   3

Which of the following amounts paid by an employer to an employee is not subject to withholding? Oa. Salary Ob. Travel expense reimbursements from an accountable plan Oc. Commissions UE Od. Bonus Oe. All of these choices are subject to withholding.

Which of the following items is exempt from including into the assessable income for salaries tax purposes? Select one: a. Leave pay b. Commission c. Compensation for termination of employment not provided in the contract d. End of contract gratuities

Tax withheld from an independent contractor is known as: a. Social Security Tax b. Federal income tax c. Federal unemployment tax d. Backup withholding tax

the amount of payroll tax withheld from an employee’s paycheck by an employer is  a current liability  recorded as an operating expense  not recorded because it is a tax paid by the employee a miscellaneus revenue for the employer