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10 Cards in this Set
- Front
- Back
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Comptroller,
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See controller.
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Controller
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The chief accountant in an organization, having responsibility for both financial and managerial accounting activities. Sometimes called comptroller.
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Deposit
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The payment of payroll taxes to the government.
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Federal unemployment tax
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A federal tax paid by employers to administer the unemployment program.
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FUTA
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See federal unemployment tax.
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Lookback period
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The 12-month period that ends on June 30th of the prior year that is used to determine how frequently a business must deposit payroll taxes.
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Salary expense
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The total of gross earnings for all employees earning hourly wages, salaries, and commissions.
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State unemployment tax
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A state tax paid by employers that is used to pay benefits to unemployed workers.
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SUTA
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See state unemployment tax.
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Wage garnishment
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A process that requires an employer to withhold a portion of an employee’s paycheck to pay a court-ordered debt settlement.
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