What are the various required and voluntary deductions

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Sales Tax

Question 1: Retailers are responsible for collecting the sales tax and sending it to the proper authority, usually monthly or quarterly. Do you find the process of collecting sales tax difficult? Why or why not?

Withholding

Question 1: What are the various required and voluntary deductions that employers withhold from employees' earnings? Do you think it is difficult for employers to process payroll withholdings? Why or why not?

Depreciation

Question 2: The declining-balance method is an accelerated method of depreciation because a greater amount of depreciation expense is taken in the early years of an asset's life and less is taken in the later years. List one reason why this method is preferred. Do you agree with this reason? Explain.

Reference no: EM132554004

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