Other Deductions From Pay
Recordkeeping & Retention
Accounting
Systems & Technology
All Mixed Up
100
What form does an employer receive from the IRS to levy on an employee's salary? a) Form 668-D b) Form 916 c) Form 668-W d) Form 2159
What is Form 668-W
100
Under the FLSA, all of the following records are required to be kept for at least three years from the last date they were in effect except for? a) Records showing additions to or deductions from employees' wages b) Collective bargaining agreements c) Certificates authorizing the employment of minors d) Records showing total sales volume and goods purchased
What is Records showing additions to or deductions from employees' wages
100
When revenue and expenses are recorded in the same accounting period, which accounting concept is being applied? a) Business entity b) Matching c) Realization d) Continuing concern
What is Matching
100
What is the main objective of any payroll system? a) Prepare internal reports b) Provide for compliance with federal, state, and local withholding, depositing, and reporting requirements c) Accurately paying employees in a restricted time frame on payday d) Maintain adequate records of all data and transactions
What is Provide for compliance with federal, state, and local withholding, depositing, and reporting requirements
100
What phase of in-house system design follows the Development Phase? a) Evaluation Phase b) User Testing Phase c) Analysis Phase d) Conceptual Definition Phase
What is User Testing Phase
200
What is the threshold for requiring employers to report to employees their charitable contributions made through payroll deductions during a calendar year so the employee may claim the contribution on a personal income tax return? a) more than $3,000 in total deductions for the year b) any amount deducted during the year c) more than $250 deducted from a single paycheck d) more than $600 in total deductions for the year
What is any amount deducted during the year
200
Under the FLSA, which of the following records must be kept for more than two years from the last date they wer ein effect? a) Wage rate tables b) Piece rate tables c) Work time schedules establishing the hours and days of employment d) Collective bargaining agreements
What is Collective bargaining agreements
200
When the same accounting concepts are applied in the same way in each accounting period, which is being applied? a) Objectivity b) Continuing concern c) Consistency d) Business entity
What is Consistency
200
All of the following features are disadvantages of using a service provider for processing your payroll except: a) Lack of control over security b) Low fixed costs c) No control over breakdowns d) Responsibility for filing errors
What is low fixed costs
200
If the state law requires a minimum wage of $8.00 per hour, but the FLSA requires $7.25, what hourly minimum wage must be paid to employees who are covered by both state law and the FLSA? a) $6.55 b) $4.25 c) $7.25 d) $8.00
What is $8.00
300
What law governs the maximum amount that can be withheld from an employee's wages for spousal or child support? a) Family Support Act of 1988 b) Omnibus Budget Reconciliation Act of 1993 c) Child Support Enforcement Amendments of 1984 d) Consumer Credit Protection Act
What is Consumer Credit Protection Act
300
Which of the following forms is used by the employee to report tips to the employer? a) Form 8821 b) Form 4070 c) Form 8027 d) Form 1099-MISC
What is Form 4070
300
When each transaction is described by a business document that proves the transaction did occur, which accounting concept is being applied? a) Objectivity b) Cost c) Matching d) Business entity
What is Objectivity
300
What is the final test before going "live" with a new system? a) Parallel test b) Spot test c) Stress test d) Conversion test
What is Parallel test
300
An employer has received several attachments against an employee's wages. The attachments were received in the following order: Federal tax levy, consumer garnishment, and child support withholding order (the underlying order was issued by a court after the federal tax levy was received by the employer). In which order are the attachments applied against the employee's wages? a) Federal levy, child support withholding order, consumer garnishment b) Child support withholding order, consumer garnishment, federal levy c) Child support withholding order, federal levy, consumer garnishment d) Federal levy, consumer garnishment, child support withholding order
What is Federal levy, child support withholding order, consumer garnishment
400
An employee subject to a student loan garnishment loses her job and gets another one six months later. How long is it before the garnishment can be reinstated? a) 6 months from her date of reemployment b) 12 months from her date of reemployment c) 9 months from her date of reemployment d) N grace period is allowed
What is 12 months from her date of reemployment
400
If the records required by the FLSA are maintained at a central location, how soon after a Department of Labor request must the employer make them available? a) 24 hours b) 48 hours c) 72 hours d) 10 days
What is 72 hours
400
In the modern audit process how does testing occur? a) Checking every transaction b) Checking those transactions indicated by the company c) Checking similar transactions to the last audit d) Sampling
What is Sampling
400
What is a warning or alert called that is built into the system that checks fr errors and ether corrects the error or notifies the operator that something may be wrong? a) Monitor edit b) System edit c) Control edit d) Procedure edit
What is System edit
400
What are the maximum wages, if any, on which social security tax is withheld? a) $113,700 b) $117,000 c) $118,500 d) There is no maximum
What is $118,500
500
If all the following withholding orders are received at the same time, which must the employer deduct first? a) Creditor garnishment b) Student loan garnishment c) Federal tax levy d) State tax levy
What is Federal tax levy
500
Under the Walsh-Healey Public Contracts Act, how long must a separate log of occupational injuries and illnesses be kept? a) 2 years b) 3 years c) 4 years d) 5 years
What is 5 years
500
How are marketable securities classified? a) Current assets b) Tangible assets c) Intangible assets d) Current liabilities
What is Current assets
500
What system is designed to eliminate the time taken to punch in and out and to write and sign information on time cards, as well as the errors that such procedures can cause? a) Software system b) Automated time and attendance system c) In-house system d) Time-sharing system
What is Automated time and attendance system
500
What action must occur for the employer to correctly designate a worker as an independent contractor? a) The worker signs an agreement of independent contractor status. b) The worker meets the common law test of independent contractor status c) The worker is part-time or temporary d) The worker uses the employer's tools
What is The worker meets the common law test of independent contractor status
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