PAyroll Taxes and reports. true or false?

1 ⤊

Amounts witheld from gross earnings and held by the employer until the time of payment are assets of the business?

true or false? i have no idea.

2007-10-30 22:05:10 · 1 answers · asked by luckyplaya23 2 in Business & Finance ➔ Taxes ➔ United States

False. They are liabilities. Withheld taxes are monies owed to the government. Any money owed to anyone is a liability.

2007-10-30 22:13:12 · answer #1 · answered by Bostonian In MO 7 · 1⤊ 0⤋