Which of the following is a tax borne by the employer and not by the employee? O A. State income tax O B. FUTA tax OC. Medicare tax OD.social security tax QUESTION 2 Which of the following does not represent a liability? O A. An obligation for estimated income taxes payable. OB. Interest that has accrued on a bank loan OC. An obligation to pay for goods purchased, payable one year after purchase O D. An obligation for future purchases of goods. QUESTION 3 When shares of preferred stock may be redeemed by the corporation at a certain price, the shares are said to be O A. cumulative. B. non-cumulative C. convertible D. callable