Amounts withheld from employee's earnings for the employee income tax is considered a liability by the employer until the government is paid
What is liability?
Liability means the obligation that one party owes another, whose settlement requires the indebted party to transfer cash or equivalent value of other benefits commensurate to the liability to the other party.
In this case, the employees owe the government income taxes, whereby the employees have discharged the obligation by having the employers deduct them from their earnings.
The onus is now on the employers to make payments in respect of the income taxes withheld to the tax authority, prior to which the taxes are treated as the employer's liability.
Find out more about liability on:brainly.com/question/17090843
#SPJ1
Missing options:
(A) assets. (B) liabilities. (C) salary expense. (D) revenue.
Answer:
Change in US external wealth between periods T and T +1 in dollars = -$100
Explanation:
Since nothing else changes, this implies that the exchange rate per yen is $0.01 in periods T and T +1. Therefore, we have:
Value shares of Sonic in period T in dollar = Number of shares of Sonic bought in period T * Price per share of Sonic in Yen in period T * Exchange rate per yen in periods T = 100 * 700 * $0.01 = $700
Value shares of Sonic in period T+1 in dollar = Number of shares of Sonic in period T+1 * Price per share of Sonic in Yen in period T+1 * Exchange rate per yen in period T+1 = 100 * 600 * $0.01 = $600
Change in US external wealth between periods T and T +1 in dollars = Value shares of Sonic in period T+1 in dollar - Value shares of Sonic in period T in dollar = $600 - $700 = -$100
<u>Answer:</u>
Supply has expanded by more than request has expanded. The mechanical development in PC chips has prompted a gigantic increment in quantity; all that anyone could need to balance any upward weight on cost because of the demand increase.
When a value floor is set over the balance value, the amount provided will surpass the amount requested, and an abundance supply or surpluses will result. At the point when government laws manage costs as opposed to letting business sector powers decide prices, it is known as value control.
Answer:
HMO Vaccination Program
With the given probability of a flu outbreak at 65 percent and the cost of the vaccination program at $8 million, my decision under these new conditions is:
To go ahead with the vaccination program in order to protect the health of the people since the assessed chance of a flu outbreak is high at 65%.
Explanation:
However, for any vaccination program to be effective, the whole population must be targeted and achieving 100% coverage must be assured. In the past, many such programs have failed because of ineffective coverage of the population. While vaccination is important, prevention of the root cause of such flu outbreaks remains paramount as it is also the least costly measure.
