1.

Which one of the following taxes results in a payroll tax expense for the employer?

		FICA tax
		Federal income tax
		Luxury tax
		State sales tax

2. Horizontal analysis can be performed on any two accounting periods but cannot be done for actual and budgeted figures.

True

False

3.

When performing a vertical analysis for the cash account on the balance sheet, the base value should be

		Total Current Assets.
		Total Assets.
		Total Liabilities.
		Total Owners' Equity.