Question

A FUTA tax deposit is required only when the amount due for the quarter plus any previous balance for a prior quarter during the year is more than _____.

a) $500
b) $1,000
c) $500,000
d) $1,000,000

Answer 1

A FUTA tax deposit is required when the sum due for the quarter and any prior balance exceeds $500. In relation to the reference, the total cost T for a year at the tutoring school is expressed by the equation T = $500 + $3,000.

Step-by-step explanation:

The student's question pertains to the Federal Unemployment Tax Act (FUTA) and specifically when a tax deposit is required. The correct answer to this question is that a FUTA tax deposit is mandatory only when the amount due for the quarter plus any previous balance for a prior quarter during the year is more than $500.

Now, regarding the reference information provided: To express the enrollment and tuition costs of the tutoring school as an equation, you would let T represent the total cost for one year. The equation would be T = $500 + $3,000, where $500 is the one-time enrollment fee and $3,000 is the annual tuition.