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10 111 112 113 114 What do the following acronyms stand for: FICA, FUTA, and SUTA? 11.12 What information is shown in a W-2 statement? 11.13 Distinguish between the two types of payroll deductions and give examples of each. 11.14 What are the primary uses of the employee earnings record? 11.15 I Identify the three types of employer payroll taxes. (b) How are tax liability accounts and payroll tax expense accounts classified in the financial statements? 11.16 You are a newly hired accountant with Nolasco Company. On your first day, the controller asks you to identify the main internal control objectives related to payroll accounting. How would you respond? 11.17 What are the four functions associated with payroll actiities? 11.18 Identify two additional types of fringe benefits associated with employees' compensation. 11.19 Often during job interviews, the candidate asks the potential employer about the firm's paid absences policy. What are paid absences? How are they accounted for? 11.20 What are two types of postretirement benefits? 11.21 Explain how a 401(k) plan works. 11.22 What is the principal difference between a defined-contribution pension plan and a defined benefit pension plan