Answer:
1. Medicare tax.
2. Local income tax.
3. Federal income tax.
4. Social Security tax.
5. State income tax.
Explanation:
Taxation can be defined as the involuntary or compulsory fees levied on individuals or business entities by the government to generate revenues used for funding public institutions and activities.
The various type of tax with their correct description are;
1. Medicare tax: it is used to support healthcare costs for retired workers. An example is the Affordable Care Act (ACA) which became effective on the 23rd of March, 2010 and it's focused on making affordable health insurance available to qualified people or households through cost-sharing reductions and premium tax credits (subsidies).
2. Local income tax: it is collected by town, school district, counties and cities to fund city or community programs.
3. Federal income tax: it is collected from most workers, who pay up to 39.6 percent of their earnings. This type of tax is paid by employees with respect to the amount of money they receive as their wages or salary.
4. Social Security tax: it is used to provide financial support to retired and disabled workers. In the United States of America, the Social Security Administration (SSA) adopted the Old-Age, Survivors, and Disability Insurance (OASDI) program to support retired and disabled workers.
5. State income tax: it is collected from workers in most states to fund their budget and the rate differs from state to state.
Expand the equation.
Multiply (distribute) the first numbers of each set, outer numbers of each set, inner numbers of each set, and the last numbers of each set.
Combine like terms.
Solve the equation and simplify, if needed.
Statement of owners equity is considered a link between the income statement and balance sheet. I think thats the answer your looking for
Diligent workers were often fired after they were found to lack the skills necessary to fulfill job responsibilities.
<h3 /><h3>What is the relevance of performance appraisal?</h3>
It is a formal instrument used to analyze whether the employee is performing his duties as expected by the organization, that is, through certain requirements the HR department is able to analyze the employee's development, motivation and productivity at work.
Therefore, underestimating the skills of employees is not the ideal behavior for creating a positive culture, the ideal is for the company to provide feedback, training and enable the development of employees.
Find out more about performance appraisal here:
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