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. What tax is used by the federal government to provide unemployment compensation to individuals who are out of work? Answer: A. FUTA B. SUTA C. Medicare D. Social Security

. What tax is used by the federal government to provide unemployment compensation to individuals who are out of work? Answer: A. FUTA B. SUTA C. Medicare D. Social Security

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1. What tax is used by the federal government to provide unemployment compensation to individuals who are out of work?
Answer:  
A.  
 FUTA
 
  
B.  
 SUTA
 
  
C.  
 Medicare
 
  
D.  
 Social Security
2. When completing Form 1096, the maximum number of types of Form 1099 that may be selected is _____.
Answer:  
A.  
 1
 
  
B.  
 2
 
  
C.  
 3
 
  
D.  
 4
3. What is the FUTA tax rate in a state that has a 1.5% credit reduction?
Answer:  
A.  
 1.2%
 
  
B.  
 1.5%
 
  
C.  
 2.1%
 
  
D.  
 2.7%
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