Which of the following statements is correct?
A)All employees must be paid no more than the minimum wage rate set by the Fair Labor Standards Act.
B)Disability benefits for the worker and the worker's dependents are provided by the Federal Insurance Contributions Act.
C)A company is required to withhold various employee taxes from amounts paid independent contractors.
D)The accountant who performs the independent audit for a company is an employee of the company.

Question

Quizplus · Accepted Answer

Disability benefits for the worker and their dependents are provided by the Federal Insurance Contributions Act (FICA). The Fair Labor Standards Act (FLSA) sets minimum wage rates, but employees can be paid more than the minimum wage. A company is not required to withhold taxes from payments made to independent contractors. An independent audit is performed by an external auditor, who is not an employee of the company.  Therefore, option B is the correct statement.

Which of the Following Statements Is Correct