5 Written Questions
5 Matching Questions
- FICA provides for
- Form W-2
- Form W-3
- a The Wage and Tax Statement. Employer is required to furnish two copies to each employee from whom income tax or Social Security tax has been withheld.
- b The entire property of a person, association, corporation, or estate applicable or subject to the payment of debts.
- c The Transmittal of Income and Tax Statement. Employers must file form annualy to transmit wage and income tax withheld statements (Form W-2) to the Social Security Administration.
- d Federal Insurance Contributions Act
- e a federal system of old age, survivors, disability, and hospital insurance. Rate is 6.2 % for employees and employers.
5 Multiple Choice Questions
- is a record that is used to make payments.
- $25 to $50
- employees and employers
- A financial summary for a specific period that shows the beginning balance on hand, the receipts and disbursements during the period, and the balance on hand at the end of the period.
- Auto expenses, dues and meetings, equipment, insurance, medical supplies, office expenses, printing, postage and, stationary, rent and maintenance, salaries, taxes and licenses, travel and entertainment, utilities, miscellaneous, personal withdrawals.
5 True/False Questions
Accounts receivable ledger → provides information about the amounts owed to the physician.
Statement → The entire property of a person, association, corporation, or estate applicable or subject to the payment of debts.
The amount of taxes to withheld is based on → single-entry system, double-entry system, and pegboard (write-it-once) system
categories considered for the physician's operating budget → $25 to $50
Invoice → A paper describing a purchase and the amount due.