The Social Security Tax Payable account will normally have a(n)
A)debit or credit balance depending on the timing of payments.
B)credit balance.
C)debit balance.
D)zero balance.

Question

Quizplus · Accepted Answer

The Social Security Tax Payable account is a liability account that represents the amount of social security tax owed to the government but not yet paid. Therefore, it normally has a credit balance, reflecting the company's obligation to pay this amount.

The Social Security Tax Payable Account Will Normally Have A(n)