Question

the taxpayer identification number for partnerships is abbreviated as
ein.
arw.
ecn.
ssi.

question 14 (3.333333333 points)
______ accounting is the process of allocating all costs associated with a sale as being direct or indirect.
accrual
cost
tax
inventory

question 15 (3.333333333 points)
the fica tax consists of
federal income tax and social security tax.
social security tax and medicare tax.
federal income tax and medicare tax.
federal income tax.

Explanation:

Identify taxpayer identification number for partnerships

The taxpayer identification number for partnerships is the Employer Identification Number, abbreviated as EIN.

Define cost allocation accounting process

The process of allocating all costs associated with a sale as being direct or indirect is known as cost accounting.

Determine components of FICA tax

The Federal Insurance Contributions Act (FICA) tax consists of Social Security tax and Medicare tax.

Answer:

Question 1

• (A) EIN. (Correct answer)
• (B) ARW.
• (C) ECN.
• (D) SSI.

Question 2

• (A) Accrual
• (B) Cost (Correct answer)
• (C) Tax
• (D) Inventory

Question 3

• (A) federal income tax and Social Security tax.
• (B) Social Security tax and Medicare tax. (Correct answer)
• (C) federal income tax and Medicare tax.
• (D) federal income tax.