Asked by Latoya Alexander on Jul 02, 2024
What type of account is Payroll Tax Expense?
A) Asset
B) Pre-paid liability
C) Contra-revenue
D) Expense
Payroll Tax Expense
Charges levied on both employers and employees, calculated as a proportion of the wages that employers distribute to their workers.
- Familiarize yourself with the architecture and complexion of payroll accounts, which include expenses, liabilities, and assets linked to payroll.
Learning Objectives
- Familiarize yourself with the architecture and complexion of payroll accounts, which include expenses, liabilities, and assets linked to payroll.