Nlp interview questions LEARNOVITA

[50+] SAP FICA Interview Questions and Answers [ TO GET HIRED ]

Last updated on 22nd Sep 2022, Blog, Interview Question

About author

Sanjay (Sr Big Data DevOps Engineer )

Highly Expertise in Respective Industry Domain with 7+ Years of Experience Also, He is a Technical Blog Writer for Past 4 Years to Renders A Kind Of Informative Knowledge for JOB Seeker

(5.0) | 13265 Ratings 2893

1. What’s SAP FICA?

Ans:

SAP FICO is a vital core practical element in SAP ERP Central element that enables a company to manage all of its monetary information. SAP FICO permits a company to store a whole version of their monetary group action information. every of that is employed for a selected monetary method.

2. What’s the employment of SAP income tax within the current industrial scenario?

Ans:

The SAP income tax is one amongst the superb industry-level solutions that square measure aiding organizations in rising client relationship management (CRM) at lightning speed. It provides directors to tackle client problems and traumatize them in monumental amounts and supply resolutions within the handiest approach.

3. What can I indicate SAP?

Ans:

SAP FI-CA sub module is Associate in Nursing application element that stands for Contract assets and owed in FI. it’s coming back below the FI module (Financial Accounting). Here could be a fast summary tutorial regarding its sub modules, group action codes and tables for your coaching purpose.

4. What’s the best group action and sub group action in SAP FICA?

Ans:

Main group action & Sub group action Use In income tax confluent invoicing Main group action and Sub group action square measure wont to verify some dependent information mechanically within the system. The below post shows however the most and sub transactions square measure utilized in CI posting areas to see the G/L account(s).

5. What’s the offered quantity in APP and therefore the principle behind it?

Ans:

    Available quantityPrinciple behind
    The offered quantity represents the most quantity that may be paid out from the APP per entry. This principle/concept is analogous to {the method|the method} followed by banks to process cheques. A given set of signatories cannot sign a cheque higher than an explicit quantity.

6. What’s SAP PSCD?

Ans:

Purpose. assortment and Disbursement (PSCD) is the industry-specific version of Contract assets and owed for the general public sector. At contract object level, you’ll produce a right away illustration of individual assets or commitments within the system.

7. What’s the SAP ISU module?

Ans:

SAP IS-U could be a sales and knowledge system that supports utility and waste disposal firms. SAP IS-U supports business functions like meter reading, meter information management, scheduling, billing, invoicing, accounting, client service, and integration to client relations management.

8. What’s confusing invoicing?

Ans:

Convergent invoicing involves propulsion info along from completely different request streams and individual-rated events and consolidating charges into one invoice. contour viewing, adjustment, accuracy, and timely generation of invoices with SAP Fiori apps.

9. What square measure mains and subs SAP?

Ans:

Main and sub transactions square measure classes, that square measure wont to specify things for a document within the Collections/Disbursements system. they’re nominal with respect to the mixture of parameters dominating the process of those things within the Collections/Disbursements system and account determination.

10. Justify the SAP FICO architecture?

Ans:

11. What square measures the 2 parts of FICA?

Ans:

Unlike federal revenue enhancement, income tax tax may be a share of every employee’s assessable wages. It consists of 2 styles of taxes: Social Security and health care. Half of} the income tax share goes toward Social Security and therefore the alternative part goes toward health care.

12. What is parallel and native currency in SAP?

Ans:

    LocalParallel
    Each company code will have 2 further currencies, additionally to the corporate code, the currency is entered into the corporate code knowledge. once the currency may be added to the corporate code creation is named native currency There square measure 2 parallel currencies that square measure employed in SAP one may be a cash and therefore the alternative is a cluster currency. Once there’s the requirement to try to do any international dealings then the parallel currency is employed.

13. Will SAP have a CRM?

Ans:

In 2007 SAP began to develop a cloud based CRM that has been renamed from SAP Business ByDesign CRM to Sales on Demand to SAP Cloud for client and at last to SAP Cloud for Sales. Since 2018 SAP has consolidated all of its cloud based mostly selling, sales, service and commerce applications as SAP C/4HANA suite.

14. What will SAP mean?

Ans:

SAP suggests that “Systems Applications and merchandise in knowledge processing”. The SAP software was developed in 1971 by 5 IBM engineers, Hopp, Wellenreuther, Hector, Tschira and Plattner, a United Nations agency working on an indoor project. In June 1972, they left IBM and founded the SAP company.

15. What’s the total sort of SAP FICO?

Ans:

The SAP FICO full type is FI (Financial Accounting) and CO (Controlling). The sub-modules that square measure usually used square measure accounts assets, accounts liabilities, plus accounting, book of account Accounting and bank accounting. All the sub modules square measure interlinked and integrate in real time.

16. Are you able to justify the distinction between ‘SAP FICA’ and ‘SAP FICO?

Ans:

    SAP FICASAP FICO
    The SAP income tax was initially introduced within the year 1999 and is one in all the foremost entrusted modules in today’s trade. The FICO interface offers the power to upset way more crucial and sophisticated methodologies needed in skilled commercialism bodies.
    It was mainly established to scale back pressure and management once it involves handling a considerable quantity of shoppers. it’s usually utilized by Tax authority teams, banking businesses, managers, etc.

17. Is SAP and ERP the same?

Ans:

You’ll generally hear the terms SAP and ERP used interchangeably. SAP may be a software package company, while ERP, Associate in Nursing word form for enterprise resource designing, is one in all several solutions SAP provides.

18. What will ERP mean?

Ans:

Enterprise resource designing Enterprise resource designing (ERP) refers to a kind of software package that organizations use to manage regular business activities like accounting, acquisition, project management, risk management and compliance, and provide chain operations.

19. What’s Associate in Nursing SAP tree?

Ans:

Sap comes from a tree’s vascular tissue cells, and is created principally of water with some minerals, sugar, nutrients and hormones mixed in. Tree sap may be found in wood that creates carbonic acid gas. If the carbonic acid gas creates pressure within the tree, the sap is forced to enter openings or wounds.

20. Describe the SAP R/3 design ?

Ans:

21. Is SAP associate ERP software?

Ans:

SAP S/4HANA Cloud could be a future-ready enterprise resource designing (ERP) system with intrinsic intelligent technologies, together with AI, machine learning, and advanced analytics.

22. What’s ERP in e-commerce?

Ans:

Enterprise Resource designing (ERP) is code which will mix the sides and processes of a business into one integrated system. Once ERP is paired with e-commerce, they work jointly, and you take pleasure in one, unified information hub that eliminates silos.

23. What’s SAP code used for?

Ans:

This helps firms better manage complicated business processes by giving workers of various departments quick access to time period insights across the enterprise.

24. Why is sap sticky?

Ans:

This sticky material is named honeydew melon, and it’s just sap from the tree that has been eaten by the insect with a number of the nutrients removed. Honeydew melon production, and also the sticky mess it makes, generally is additional of a haul than the little quantity of nutrients far from the plant by sap-feeding insects.

25. However is sap created?

Ans:

Sap production begins in hot summer months once the method of chemical process creates carbohydrates that get hold on within the tree as starch. The starch then gets regenerated to sugar within the sort of disaccharide that dissolves into the sap, that is held on for the winter.

26. Why do trees secrete sap?

Ans:

Tree sap functions to move very important mineral nutrients and sugars to any or all living elements of the tree. as a result of it’s mostly water, sap conjointly serves to keep up state pressure. throughout the season, water frequently flows from the tree’s roots, up through the vascular tissue and to the leaves.

27. What’s associate SAP example?

Ans:

SAP ERP is associate enterprise resource designing code developed by the corporate SAP SE.Some example business processes embrace Operations, company Services, Finance and Human Capital Management.

28. However does one calculate FICA withholding?

Ans:

To calculate FICA tax contribution for associate workers, multiply their gross pay by the social insurance and Medicare tax rates. As an example, if associate employee’s ratable wages square measure $700 for the week, their social insurance contribution would be: $700.00 x 6.2% = $43.40.

29. What square measures the 3 main kinds of taxes?

Ans:

Tax systems within the U.S. comprise 3 main categories: Regressive, proportional, and progressive. 2 of those systems impact high- and low-income earners otherwise. Regressive taxes have a larger impact on lower-income people than the rich.

30. Describe the design of SAP blog?

Ans:

SAP’s design system provides a unified foundation for the company’s many distinct design languages, each of which is aimed towards a distinct set of interactions or devices. In order for app developers to concentrate on the business logic, etc., each design language defines all the necessary components.

31. Is FICA mandatory?

Ans:

FICA contributions are unit obligatory, and rates are set annually, though not essentially modified each year—they have remained stable between 2020 and 2022, as an example. The number of the FICA payment depends on the financial gain of the employee: the higher the financial gain, the lower the FICA payment.

32. WHO is eligible for FICA taxes?

Ans:

Children below the age eighteen WHO area unit utilized by their elders. Qualified retirement savings plan contributions from employers. Service performed by students utilized by a faculty, faculty or university.

33. Is FICA identical as Social Security?

Ans:

No, however they’re closely connected. FICA, the Federal Insurance Contributions Act, refers to the taxes that for the most part fund Social Security retirement, disability, survivors, spousal and children’s advantages. Employers match workers’ Social Security and health care contributions.

34. Is FICA Social Security?

Ans:

Taxes beneath the Federal Insurance Contributions Act (FICA) are units composed of the old-age, survivors, and social insurance taxes, conjointly called Social Security taxes, and also the hospital insurance tax, conjointly called health care taxes. completely different rates apply for these taxes.

35. What financial gain is subject to FICA?

Ans:

Usually, FICA applies to any or all nonexempt compensation (salary, wages, commissions, bonuses, tips), as well as nonexempt fringe advantages (e.g., compensation for moving expenses, nonexempt prizes and awards) and earnings reduction amounts for contributions to 401(k)s and similar plans.

36. Why isn’t FICA deducted from my paycheck?

Ans:

That’s as a result of the Internal Revenue Service imposing a twelve.4% Social Security tax and a two.9% health care tax on web earnings. Typically, workers and their employers split that bill, that is why workers have half dozen.2% and 1.45%, severally, command from their paychecks.

37. However, does one stop FICA?

Ans:

You may be ready to raise your leader to “shut off” a part of your FICA contributions before the tip of every year if you earn a high financial gain beneath one thing known as the wage-base limit. Basically, this implies that you’ll hit your threshold for Social Security withholdings for the year before the year ends.

38. Is FICA refundable?

Ans:

If you pay your FICA taxes, you’re entitled to a refund of the surplus quantity. you may pay if: You aren’t subject to those taxes, however they were withheld from your pay.

39. Where do FICA contributions go?

Ans:

The money goes to the inner Revenue Service initial, then is steered into a Social Security fund to procure Social Security program funding. some of your FICA tax conjointly goes into the federal government’s health care monetary fund. (Medicare didn’t launch till 1965.

40. Do I actually have to pay FICA?

Ans:

Yes. There’s no exemption for paying the Federal Insurance Contribution Act (FICA) payroll taxes that fund the Social Security and health care systems. As long as you’re employed in an exceedingly job that’s lined by Social Security, FICA taxes are going to be withheld from your payroll check.

41. Why did I purchase an income tax Refund?

Ans:

There is a income tax tax refund for immigrants UN agency square measure exempt from the tax in addition as for anyone needed to pay income tax, however UN agency pay. This typically happens if you modify employers. If you owe taxation (this year or previous years), the agency can apply the refund thereto quantity 1st, then refund you any distinction.

42. What’s income tax vs federal financial gain tax?

Ans:

The federal taxation could be a taxation that’s stricken by your tax filing standing. This suggests that the higher your financial gain, the lower is that rate. In distinction, the income tax taxes that embrace social insurance tax and Medicare tax, don’t seem to be stricken by your filing standing.

43. what’s income tax exempt income?

Ans:

Under the income tax tax provisions, in 2020, you pay the social insurance portion on earnings of but $137,700. The Interior Revenue Service notes that any financial gain that you just earn over this quantity is going to be exempt from contributions to the social insurance fund.

44. What’s the income tax Medicare on my paycheck?

Ans:

FICA is an associate degree form for “Federal Insurance Contributions Act.” income tax is the cash that’s taken out of workers’ paychecks to pay older Americans their social insurance retirement and Medicare (Hospital Insurance) advantages. It’s a compulsory payroll deduction.

45. What will income tax Medicare mean?

Ans:

Federal Insurance Contributions Act: FICA refers to the combined taxes withheld for social insurance and Medicare (FICA stands for the Federal Insurance Contributions Act). On your pay statement, social insurance taxes square measure mentioned as OASDI, for maturity Survivor and social insurance. Medicare is shown as Fed Med/EE.

46. What’s the income tax withheld?

Ans:

FICA stands for the Federal Insurance Contributions Act. It’s the federal law that requires employers to pay and withhold bound taxes from the wages they pay workers vi.2% social insurance tax, withheld from the primary $142,800 associate degree worker makes in 2021. 1.45% Medicare tax, withheld on all of the associate degree employee’s wages.

47. What’s a different income tax plan?

Ans:

A different income tax arrangement could be a form of 3121 retirement savings plan for your seasonal, part-time, and temporary workers that replaces social insurance. Employers avoid the matching vi.2% social insurance contribution, commutation it with associate degree impactful profit for workers.

48. What’s the income tax Medicare tax?

Ans:

FICA stands for the Federal Insurance Contributions Act, and it’s a federal tax that employers and workers pay. income tax tax includes 2 taxes: Medicare tax and social insurance tax. The 2021 tax rates for employers square measure vi.2% for social insurance and one.45% for Medicare.

49. wherever is income tax on w2?

Ans:

FICA tax withholding is shown in box four for social insurance taxes and in box vi for Medicare taxes.

50. Make a case for the design of sap income tax for beginners?

Ans:

51. Is income tax assessable income?

Ans:

FICA may be a tax that isn’t a tax. Most state, native and alternative taxes may be subtracted from your adjusted gross financial gain, called AGI, once you figure your federal revenue enhancement comes.

52. However do I report income tax taxes?

Ans:

Income and income tax instrument needs Most employers are needed to file type 941, Employer’s Quarterly Federal instrument, to report each of the federal financial gain taxes you withheld and also the income tax taxes you withheld and paid throughout a calendar quarter. (Employers United Nations agency qualify for annual reporting/payment, file type 944.

53. Will an Associate in Nursing leader get in trouble for not withholding federal taxes?

Ans:

No Federal revenue enhancement Withheld: If your leader didn’t put off enough, you’ll owe on Gregorian calendar month fifteen. Though the responsibility for paying your taxes ultimately falls on you, employers face criminal and civil penalties for failing to withhold taxes on workers.

54. Is the United Nations agency exempt from income tax?

Ans:

International students, scholars, professors, teachers, trainees, researchers, physicians, au pairs, site staff, and alternative aliens briefly gift within the u. s. in F-1,J-1,M-1, or Q-1/Q-2 nonimmigrant standing ar exempt from income tax taxes on wages as long in and of itself services ar allowed by USCIS.

55. Why do I want to pay FICA?

Ans:

Paying income tax taxes is obligatory for many workers and employers underneath the Federal Insurance Contributions Act of 1935. The funds are accustomed to get hold of each social insurance and health care. If you own a business, you’re answerable for paying social insurance and health care taxes, too.

56. Once are you able to stop paying income tax

Ans:

Most people create but $142,800 per annum, in order that they pay the vi.2 p.c payroll tax on each payroll check in two021. However, people who create quite $142,800 don’t need to pay into the program once they hit that cap.

57. What’s the income tax claim?

Ans:

FICA may be a U.S. federal payroll tax. It stands for the Federal Insurance Contributions Act and is subtracted from every payroll check. Your nine-digit range helps social insurance accurately record your coated wages or self- employment. As you’re employed and pay income tax taxes, you earn credits for social insurance edges.

58. Am I able to take income tax off my paycheck?

Ans:

The only thanks to pay less income tax tax (as a dollar quantity, not a proportion of pay) is to earn less financial gain. income tax stands for Federal Insurance Contributions Act. However, they additionally get to deduct five hundredth of what they pay in self-employment tax as Associate in Nursing revenue enhancement deduction on office type 1040 (see office public house 334).

59. What happens if you don’t pay FICA?

Ans:

Employer Responsibilities: A failure to properly report and pay income tax taxes may result in civil and criminal penalties for employers. Late deposits will incur a penalty from two p.c to fifteen p.c of the tax due, counting on what percentage days late the payment is received.

60. Describe the design of SAP public sector collection?

Ans:

61. UN agency qualifies for an income tax Refund?

Ans:

If you’re within the US on Associate in Nursing F-1, J-1, M-1, Q-1 or Q-2 visa or are classified as a non-resident migrator, you qualify for an income tax tax refund. The refund conjointly applies to people who pay the system once they reach the wage base limit of $142,800 in 2021.

62. What’s the income tax match?

Ans:

The leader income tax match could be a demand for the Associate in Nursing leader to remit to the govt double the quantity of social insurance and health care taxes withheld from worker pay. this implies that the worker is paying half the quantity remitted, and also the leader is paying the opposite [*fr1].

63. What’s the most SS?

Ans:

The most a private UN agency files a claim for social insurance retirement edges in 2021 will receive per month is: $3,895 for somebody UN agency files at age seventy. $3,148 for somebody UN agency files at full retirement age (currently sixty six and a pair of months). $2,324 for somebody UN agency files at sixty two.

64. Where am I able to notice my FICA?

Ans:

To the worker on every check, as well as each the withholding quantity for the present pay and total quantity of income tax withheld for the year to this point. To the federal agency on type 941- the Employer’s Quarterly Wage and Tax Report. On the employee’s W-2 type at the tip of the year.

65. Is income tax taken out before or when taxes?

Ans:

Pre-tax deductions: Medical and dental edges, 401(k) retirement plans (for federal and most state financial gain taxes) and group-term life assurance. obligatory deductions: Federal and state tax, FICA taxes, and wage garnishments.

66. What are SAP FICO modules?

Ans:

SAP FICO includes 2 modules, i.e., SAP Finance (FI) and SAP dominant (CO), every of those modules are accustomed to specific money processes. SAP FI module focuses on complete money reportage and accounting whereas SAP CO stress on coming up with and observance prices.

67. Outline the terms TDM and BDM?

Ans:

The master information theory model of the IS-U is sorted in 2 primary classes that embody the subsequent:

    TDMBDM
    Customers get an outsized variety of services from organizations, and also the act of extremely job a specific service to the patron by utilizing a master information is categorized beneath the Technical information model in SAP. Customers are usually charged and baked for many styles of services. Organizations handle similar classes of service billings in infinite numbers and therefore, they need Associate in Nursing order-wise grouping procedure. For instance, a mercantilism affiliate will be an Associate in Nursing enterprise or a private. Consequently, the master information used for charging customers are thought of beneath the BDM within the SAP, IS-U model.

68. However, am I able to avoid income tax?

Ans:

The percentage of financial gain for income tax that employees pay is set by federal law and is the same for everybody. The sole reason to pay less income tax tax (as a greenback quantity, not a share of pay) is to earn less financial gain.

69. In assets, what’s the distinction between the ‘Residual Payment’ and ‘Part Payment’ ways of allocating cash?

Ans:

    Part paymentResidual payment
    An invoice for $100 is generated, the client has paid $70. Currently this $70 is going to be off-set and the remaining balance $30. With residual payment, the invoice is cleared for the total worth of $100 and a replacement invoice is generated for the remaining balances $30.

70. Describe how the structure looks like of security challenges in SAP?

Ans:

71. What’s FICA conjointly famous as?

Ans:

Taxes beneath the Federal Insurance Contributions Act (FICA) are units composed of the old-age, survivors, and social insurance taxes, conjointly referred to as Social Security taxes, and also the hospital insurance tax, conjointly referred to as health care taxes.

72. What’s the importance of the products Received / Invoice Received clearing account?

Ans:

Invoice received and Goods received: This is an associate treater clearing account. This is often employed in SAP to record the products and invoices in transit. It records the products received however not invoiced The provision is formed in SAP at the receipt of the products within the inheritance system, if the products are unit received and also the invoice isn’t received.

73. Justify the SAP CRM architecture?

Ans:

74. What’s the distinction between SAP FICO and S4 Hana?

Ans:

The main distinction between SAP FICO and S4 HANA Finance is the technology employed in them. SAP FICO works on the error correction code model, whereas SAP S4HANA Finance (Simple Finance) is predicated on the in-memory HANA information that works on cloud technology.

75. What does one Mean By Year keen about financial year Variants?

Ans:

    Year dependentFiscal year Variants
    The yr is the same because of the civil year. ranging from first Jan to thirty first Dec (where posting periods and also the calendar months area unit equal). The yr is completely different from the civil year ranging from first Apr to thirty first March (where the posting amount months don’t seem to be adequate to civil year months).

76. What’s a sub transaction?

Ans:

Noun. sub dealings (plural sub dealings) (databases) A dealings creating up a part of a bigger transaction.

77. What’s SAP ABAP and Hana?

Ans:

ABAP (development) for SAP HANA refers to any or all developments that leverage the ability of SAP HANA among ABAP-based applications. During this context, the SAP HANA platform is the primary information underlying the ABAP platform. This technique readying possibility is supported with AS ABAP seven.4 onwards.

78. State the crucial distinction between associate enterprise and enterprise code?

Ans:

    EnterpriseEnterprise code
    An enterprise or company is an associate structure field that’s getting used within the legislative consolidation module to assimilate financial statements of various enterprise codes. The enterprise code could be a normal language typically employed in SAP. The corporate or enterprise code is the minor type of unit, within which a bunch of autonomous accounts is used for extraneous news functions.

79. Outline Dmc_jar?

Ans:

The dmc_jar object kind could be a subtype of dm_document, and it’s used for JAR archives containing Java code.

80. Describe the design of SAP modules?

Ans:

81. What federal health care is withheld?

Ans:

The current charge per unit for Social Security is half dozen.2% for the leader and half dozen.2% for the worker, or 12.4% total. The present rate for health care is one.45% for the leader and one.45% for the worker, or 2.9% total.

82. Is FICA on gross income?

Ans:

Federal taxation and FICA taxes each use the employee’s gross wages as a place to begin, and each tax area unit is calculated severally.

83. Outline Relationship Between dominant space And Company Code?

Ans:

    Controlling spaceCompany code
    A dominant space could embrace one or a lot of company codes that should use an equivalent operative chart of accounts because the dominant space. A dominant space will contain multiple company code assignments however one company code will be assigned to only 1 dominant area.

84. World Health Organization to blame for FICA tax?

Ans:

FICA taxes are unit associate degree employer’s responsibility. however the leader splits the price 50/50 with the worker by withholding half the quantity due from employees’ paychecks. The leader periodically sends each of the leader and worker parts of FICA to the office victimizing the Electronic Federal Tax Payments System (EFTPS).

85. What area unit the baseline technique and decline balance method?

Ans:

    Baseline techniqueDecline technique
    Baseline technique may be a straight-line depreciation technique. The depreciation is calculated to support an outlined share or lifetime of the plus, that should be maintained within the plus master. The declining balance technique is additionally said because of the written down price technique. This can be as a result of we have a tendency to record vital depreciation expenses within the initial years of an associate degree asset’s life associate degreed a lot of negligible depreciation throughout later years of an asset’s life during this technique.
    For example, the acquisition price of associate degree plus is Rs. 10,000, and therefore the lifetime of the acquisition is maintained as twenty years. Therefore, the system can calculate depreciation @ Rs. five hundred once a year for twenty years. For example, if a tenth declining balance technique is chosen, the depreciation is going to be calculated @ Rs within the 1st year. 2,000. Within the second year, the bottom for the calculation of depreciation is going to be Rs. 18,000 and depreciation is going to be Rs. 1,800.

86. Make a case for the design of building knowledge for SAP?

Ans:

87. What’s the utilization of SAP FICA within the current industrial scenario?

Ans:

The SAP FICA is one among the superb industry-level solutions that area unit-aiding organizations in up-client relationship management (CRM) at lightning speed. It provides directors to tackle client problems and subsume them in huge amounts and provide resolutions within the only means.

88. What’s the SAP FI definition?

Ans:

SAP FI stands for monetary Accounting and it’s one among the vital modules of SAP ERP. It’s accustomed to store the monetary knowledge of a corporation. SAP FI helps to investigate the monetary conditions of a corporation within the market. It will integrate with alternative SAP modules like SAP American state, SAP PP, SAP MM, SAP SCM, etc.

89. What’s FICA in SAP?

Ans:

SAP FICO is a very important core useful part in SAP ERP Central part that enables a corporation to manage all of its monetary knowledge. SAP FICO permits a corporation to store a whole version of their monetary dealing knowledge. … SAP FICO consists of 2 sections, SAP Finance (FI) and SAP dominant (CO).

90. What’s a contract account in SAP FICA?

Ans:

In Contract assets and collectables , every business partner posting is assigned to at least one business partner and to at least one contract account. Within the contract account master record, you’ll be able to outline, for every business partner, the procedures that apply once posting and process the road things of a given contract account.

91. What’s FICA tax?

Ans:

FICA may be a U.S. federal payroll tax. It stands for the Federal Insurance Contributions Act and is subtracted from every cheque. Your nine-digit variety helps social insurance accurately record your coated wages or self- employment. As you’re employed and pay FICA taxes, you earn credits for social insurance advantages.

92. What’s the complete kind of FICA?

Ans:

Federal Insurance Contributions Act.

Are you looking training with Right Jobs?

Contact Us

Popular Courses