In addition to social security tax withholding, wage earners also pay a 1.45% withholding tax on all gross salary and wages for
A) supplemental social security tax.
B) medicaid tax.
C) medicare tax.
D) the supplemental college loan fund.
Answer: C
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Which of the following terms characterizes the time period between the investment of cash in merchandise and the collection of cash from the sale of that merchandise?
a. Operating cycle b. Natural business year c. Accounting period d. Fiscal period
Which activity is not part of the finance function?
a. cash receipts b. portfolio management c. credit d. general ledger
Which of the following would not be included on a payroll record?
a. The employees' gross earnings. b. Amounts withheld from the employees' earnings. c. Which jobs should be charged for the employees' time. d. The amount of overtime paid to the employees.
A used car dealer who begins by persuading you that foreign car companies make better, longer lasting vehicles and then tries to sell you a (Japanese) 1997 Mitsubishi Galant from his lot is using which type of reasoning?
a. deductive reasoning b. inductive reasoning c. productive reasoning d. conductive reasoning