Question: Need help choosing correct answer choice Ans Workers' compensation insurance provides insurance for employees who (A) lose their jobs; (B) cannot pay their debts; (C)

Need help choosing correct answer choice

Ans Workers' compensation insurance provides insurance for employees who (A) lose their jobs; (B) cannot pay their debts; (C) go on strike; (D) are injured on the job; (E) need to go back to school for more training. A self-employment tax is a contribution to the (A) Social Security and Medicare programs; (B) FUTA programs; (C) SUTA programs; (D) charities of the individual owner's choice; (E) state government. When all taxes have been paid, the liability account will have (A) a credit balance; (B) a debit balance; (C) a zero balance; (D) no balance; (E) a new balance showing all taxes that have been paid since the employee started work. The rules by which employers must deposit Social Security and Medicare taxes can be found in (A) the Employer's Tax Guide; (B) the IRS Tax Guide; (C) The Federal Reserve Bank Tax Guide; (D) the employer's handbook; (E) none of these. The Employer's Quarterly Federal Tax Return is (A) Circular E; (B) Form W-2; (C) a report of federal, Social Security, and Medicare tax withholdings; (D) a report of each employee's wages; (E) all of these. Opal Stone has gross earnings of $750.00 and withholdings of $46.50 for Social Security tax, $10.88 for Medicare tax, and $96.00 for federal income tax. Her employer pays $46.50 for Social Security tax, $10.88 for Medicare tax, $6.00 for FUTA tax, and $40.50 for SUTA tax. The total cost of Stone to her employer is (A) $257.26; (B) $750.00; (C) $853.88; (D) $911.26; (E) $1,007.26. The date on which an employer must pay Social Security and Medicare taxes is (A) January 1 of each year; (B) June 30 of each year; (C) December 30 of each year; (D) dependent on the amount of the taxes; (E) determined for each business by the IRS. An Employer Identification Number (EIN) is obtained by the employer from the (A) CIA; (B) IRS; (C) Federal Reserve Bank; (D) state bank; (E) state employment office
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