Match each of the following terms a through j with the appropriate definitions 1-10.a. FUTA taxesb. Contingent liabilityc. Merit ratingd. Long-term liabilitye. Estimated liabilityf. Net payg. Wage bracket withholding tableh. Warrantyi. Withholding allowancej. FICA taxes_____ 1. A measure provided by a state to employers that reflects a company's stability in employing workers._____ 2. Taxes that fund Social Security and Medicare, assessed on both employer and employees under the Federal Insurance Contributions Act._____ 3. Known obligations of an uncertain amount that can be reasonably estimated._____ 4. Obligations of a company requiring payment after one year or operating cycle if longer._____ 5. Gross pay less all tax and voluntary deductions._____ 6. A
table of amounts of income tax to be withheld from employees' wages._____ 7. A potential obligation that depends on a future event arising from a past transaction._____ 8. A seller's obligation to replace or fix a product or service that fails to perform as expected within a specified period._____ 9. 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._____10. Payroll taxes on employers assessed by the federal government to support the federal unemployment insurance program.
What will be an ideal response?
1. C; 2. J; 3. E; 4. D; 5. F; 6. G; 7. B; 8. H; 9. I; 10. A
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