accounting chapter 13 and True & False

Question 1

salary expense

Answer 1

the total of gross earnings for all employees earning hourly wages, salaries, and commissions

Question 2

federal unemployment tax (FUTA)

Answer 2

A federal tax paid by employers to administer the
unemployment program

Question 3

sate unemployment tax (SUTA)

Answer 3

A state tax paid by employers that is used to pay benefits to
unemployed workers

Question 4

deposit

Answer 4

• The payment of payroll taxes to the government

Question 5

lookback period

Answer 5

The 12-month period that ends on June 30 of the prior
year that is used to determine how frequently a business
must deposit payroll taxes