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Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Kk180.
Transcribed Image Text:Which of the following statements is FALSE?
a)
FUTA Taxes Payable is an expense account in which are recorded the employer's
federal unemployment taxes.
b) The payroll taxes incurred by an employer are FICA, FUTA, and SUTA.
c) The payroll taxes account is an expense account that is debited for the PICA,
FUTA, and SUTA taxes on the employer.
d)
The FICA taxes on the employer represent both business expenses and liabilities
of the employer.
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