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

1. Introduction to Accounting

Useful Information

Financial Accounting

1. Introduction to Accounting

Useful Information

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Multiple Choice

Employers use which form to compute the amount of federal income tax to withhold from an employee's paycheck?

Form 1099

Form W-4

Form 1040

Form W-2

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Understand the purpose of each form mentioned in the problem: Form 1099 is used to report income from self-employment or other non-wage sources, Form 1040 is used for individual income tax filing, Form W-2 reports wages and tax withholdings, and Form W-4 is used by employees to inform employers of their tax withholding preferences.

Recognize that the question is asking about the form employers use to compute federal income tax withholding from an employee's paycheck.

Recall that Form W-4 is specifically designed for employees to provide information about their filing status, number of dependents, and other adjustments, which employers use to calculate the amount of federal income tax to withhold.

Eliminate the incorrect options based on their purpose: Form 1099 and Form 1040 are not related to payroll withholding, and Form W-2 is used for reporting wages and taxes after they have been withheld, not for calculating withholding.

Conclude that the correct form employers use to compute federal income tax withholding is Form W-4, as it directly provides the necessary information for this calculation.