Which of the following accounts is an expense account in which an employer records the FICA, FUTA, and SUTA taxes? a. Wages Expense b. SUTA Taxes Payable c. Salaries Payable d. Payroll Taxes e. None of these choices are correct.

D.Payroll Taxes

Explanation:

FICA: It is a mandatory deduction from the payroll of employed workers for the payment to aged Americans for their social security retirement expense and medical benefits.

FUTA: It is Federal unemployment tax act (FUTA) that is deducted from employer pay it´s employee as certain percentage of wages for the state´s unemployment welfare program. It has threshold limit of $7000.

SUTA tax: It is a state unemployment tax act that is a payroll tax paid by employer to the state´s unemployment fund on the behalf of its employee.

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answer; no individual buyer or seller has any significant impact on the market price;