Table of contents

1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

9. Current Liabilities

Payroll and Payroll Taxes

Financial Accounting

9. Current Liabilities

Payroll and Payroll Taxes

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Multiple Choice

Unemployment taxes are examples of which type of required taxes?

Employer-only required taxes

Voluntary taxes paid by employees

Both employee and employer required taxes

Employee-only required taxes

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Verified step by step guidance

Understand the concept of unemployment taxes: These are taxes imposed by the government to fund unemployment benefits for workers who lose their jobs.

Identify who is responsible for paying unemployment taxes: Unemployment taxes are typically paid by employers, not employees.

Clarify the distinction between employer-only taxes and other types of taxes: Employer-only taxes are those that are solely the responsibility of the employer, unlike taxes that are shared between employees and employers (e.g., Social Security and Medicare).

Review the options provided in the question: Analyze each option to determine which aligns with the nature of unemployment taxes.

Conclude that unemployment taxes fall under 'Employer-only required taxes' based on the explanation above.