Which of the following does notdescribe a purpose of theemployee's earnings records? a.They are part of the payrollpackage required to be sent tothe IRS on an annual basis. b.They are used to prepare internalmanagement analyses. c. Theyare used to determine wherecumulative wages are inrelationship to wage bases (caps) for various taxes, such asOASDI, FUTA, and SUTA. d.They are used to aid incompletion of year - endinformational returns, such as W-2s.

Employee earnings record is the record maintained by the employee that contains information about…

Answered: Which of the following does not…

Business

Accounting

Which of the following does not describe a purpose of the employee's earnings records? a. They are part of the payroll

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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Question

Which of the following does not
describe a purpose of the
employee's earnings records? a.
They are part of the payroll
package required to be sent to
the IRS on an annual basis. b.
They are used to prepare internal
management analyses. c. They
are used to determine where
cumulative wages are in
relationship to wage bases (caps
) for various taxes, such as
OASDI, FUTA, and SUTA. d.
They are used to aid in
completion of year - end
informational returns, such as W
-2s.

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