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Which of the following statements is true regarding Federal Unemployment Tax (FUTA)?
Multiple Choice
FUTA is a payroll tax owed by the business and reported annually on tax form 940.
FUTA is a payroll tax owed by the business and reported quarterly on form 941 and annually on tax form 944.
FUTA is a payroll tax owed by the employee and reported annually on tax form 940.
FUTA is a payroll tax shared by the employer and employee and reported quarterly on form 941 and annually on tax form 944.
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