Option c. A current liability is a correct answer. The amount of federal income taxes withheld from an employee's gross pay is recorded as a current liability
Under employment law, employers operate as intermediaries between employees and state and federal agencies. It is the obligation of employers to track and pay taxes, social security, and other payments from employee pay to government agencies.
The company must remit the amount withheld each quarter which means the amounts are owed in the current period. When taxes are paid, the FIT Payable account is debited to balance the transactions.
Option a) is incorrect as no asset is created by the withholding.
Option b) is incorrect as the taxes are not an expense paid by the company.
Option d) is incorrect as the payable operates as a normal liability account.
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Answer:
A shoulder was turned towards her partner to make sure everything that was presented was taken by her.
Explanation:
In order to change the active sentences into passive sentences, the object in the active sentence is changed into the subject. For example in the above given example, the object is shoulder which is changed into the subject and then the sentence is formed accordingly.
So now it becomes "A shoulder was turned towards her partner to make sure everything that was presented was taken by her."
I hope the answer is helpful.
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Choosing a location for a new business is one of the most important decisions entrepreneurs make during the planning phase of launching ventures. The location of a business can affect many aspects of how it operates, such as total sales and how costly it is to run.
Answer: True
Explanation:
Yes, the given statement is true that the employing capital rationing is one of the process in which it placing some restriction on the investment amount of the project in an organization.
In the capital rationing strategy, if the company accepts less amount from all its prospective projects along with some positive net profit value (NPVs) the it is evaluated on the basis of their own risk.
The employ capital rationing helps in making various types of decisions related to investment for the company and in this system only limited projects are taken due to the limitation of the resources.
Therefore, The given statement is true.
Answer: Joint Venture
A Joint Venture is a business entity that is created when two or more corporations pool in their resources for a specific project.
The corporations that are a part of the Joint Venture share the governance, risks and rewards of the joint venture.
In a Joint venture the corporations who come together to form a joint venture retain their distinct entities.
