1. voluntary deductions include
a: federal tax withholdings
1.The option C is correct.
2.The option A is correct.
3.The option D is correct.
1.Voluntary deductions: The voluntary deduction refers to the wages that are withheld from the paycheck on the will of the person. It includes the payments made to health and life insurance, retirement plan contributions, before-tax health savings plans, and savings programs.
The deduction like federal tax withholdings, state tax withholdings, and Social Security withholdings are mandatory deduction.
Therefore, option C is correct.
2.FICA: The abbreviation of the FICA is the “Federal Insurance Contributions Act.”. It is a tax deducted from employee paychecks to pay the older American citizens their Medicare and Social Security benefits. It also provides benefits to widowers and widows, disabled workers, and children whose parents are working but are dead and qualify for benefits. It is a mandatory or involuntary payroll deduction.
Therefore, option A is correct.
3.Fixed Expense: There are two types of expense fixed expense and variable expense. Fixed expenses refer to costs that do not due to changes in production level or sales volume. They include such expenses as insurance, rent, equipment leases, and payments on loans, management salaries, depreciation, and advertising. The mortgage is the fixed expense because the mortgagee has to pay an annual or monthly amount to the mortgages.
Therefore, option D is correct.
1.Learn more about the variable cost
2.Learn more about the overhead cost
3.Learn more about the excise tax
Grade: Middle School
Chapter: State income tax
Keywords: Voluntary deductions, federal tax withholdings, state tax withholdings, health insurance, Social Security withholdings, FICA, involuntary deduction based on a percentage of gross pay, voluntary deduction based on percentage of net income, voluntary deduction based on a percentage of gross pay, involuntary deduction based on a percentage of net income, fixed expense, clothing (not for work), gas for a trip to the beach, jean, mortgage,Types of costs.
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answer: your answer is a