Other Deductions From Pay
Recordkeeping & Retention
Accounting
Systems & Technology
All Mixed Up
100
How many parts does Form 668-W, Notice of Levy on Wages, Salary and Other Income, contain? a) Three parts b) Four parts c) Five parts d) Six parts
What is Six parts
100
How long are FUTA tax records normally required to be retained? a) 3 years b) 4 years c) 5 years d) Indefinitely
What is 4 years
100
Where are business transactions first recorded? a) Journal b) General ledger c) Trial balance d) Balance sheet
What is Journal
100
Which of the following systems is least likely to interface with payroll? a) Human Resources b) Marketing c) Benefits d) Accounting
What is Marketing
100
All of the following payments are subject to social security tax except: a) Dismissal payments b) Tips exceeding $20.00 per month c) Employee's elective deferral to a 401(k) plan d) Sick-leave payments after six calendar months of absence from work
What is Sick-leave payments after six calendar months of absence from work
200
Under the CCPA, what is the maximum amount that can be withheld from an employee's wages for spouse or child support when the employee is not supporting another family and is 15 weeks in arrears for the support owed? a) 65% of gross pay b) 60% of disposable pay c) 65% of disposable pay d) 55% of disposable pay
What is 65% of disposable pay
200
How long does the ADEA require that records of an employee's name, address, date of birth, occupation, pay rate, and compensation earned be kept? a) 2 years b) 3 years c) 4 years d) 5 years
What is 3 years
200
If a pay period ends August 22, employees are paid August 29, and the payroll tax deposit is due September 15, when should the payroll expenses be recorded? a) August 22 b) August 23 c) August 29 d) September 15
What is August 22
200
All of the following features are advantages of an in-house payroll system except: a) Convenient access b) Low fixed costs c) Scheduling flexibility d) System security
What is Low fixed costs
200
What is the penalty for failure to file Form W-2 electronically when required? a) $5.00 per statement to a maximum of $100,000.00 b) $5.00 per statement to a maximum of $200,00.00 c) $5.00 per statement to a maximum of $20,000.00 d) Penalty is dependent upon number of days correctly filed W-2s are late
What is Penalty is dependent upon number of days correctly filed W-2s are late
300
When determining the amount to send to the IRS to satisfy a tax levy, the exempt amount is deducted from what amount? a) Gross pay b) Disposable pay c) Take-home pay d) Federal income tax wittheld
What is Take-home pay
300
What law requires Form I-9 to be retained? a) Immigration Reform and Control Act of 1986 b) Civil Rights Act of 1964 c) Age Discrimination in Employment Act 1967 d) Americans with Disabilities Act of 1990
What is Immigration Reform and Control Act of 1986
300
Which of the following accounts describes the legal obligation of a business to pay its debts? a) Asset b) Liability c) Owner's equity d) Expenses
What is Liability
300
All of the following features are disadvantages of an in-house computer system except: a) High fixed costs b) Additional staffing c) Sufficient secure space needed d) Scheduling flexibility
What is Scheduling flexibility
300
Under the principles of double entry bookkeeping, what does a credit to an account signify? a) An increase in an asset account b) A decrease in a capital account c) A decrease in a liability account d) An increase in a liability account
What is An increase in a liability account
400
When an employer receives Form 668-W from the IRS, when must the employer begin to withhold and remit? a) With the first payment of wages after receipt of Form 668-W b) Within 14 days after receipt of Form 668-W c) Within 30 days after receipt of Form 668-W d) Within 30 days after receipt of Form 668-W or the first date of payment of wages, whichever is later
What is With the first payment of wages after receipt of Form 668-W
400
Which of the following laws governs unclaimed wages? a) Federal wage-hour laws b) State escheat laws c) Equal employment opportunity laws d) Labor relations laws
What is State escheat laws
400
FUTA and SUTA taxes payable are what types of accounts? a) Owner's equity b) Assets c) Liabilities d) Net worth
What is Liabilities
400
All of the following items are needed for web-enablement except: a) PCs with extensive memory b) Sufficient Internet infrastructure c) Web-enabling tools d) HRMS application expertise
What is PCs with extensive memory
400
What is the purpose of an accrual? a) To allows adjustments to budgets b) To spread large payments over 12 months c) To offset debits and credits as they are incurred d) To assign revenue and expenses to the period in which they are earned or incurred
What is to assign revenue and expenses to the period in which they are earned or incurred
500
When does an employer stop withholding for a federal tax levy? a) When Form 668-W is received b) When Form 668-D is received c) When Form 668-S is received d) When the IRS collection officer calls
What is Whe Form 668-D is received
500
How long must an employer maintain records it si required to keep under the Family and Medical Leave Act? a) 4 years b) 6 years c) 3 years d) 1 year
What is 3 years
500
When a company purchases a computer on credit for $2,500, which of the following journal entries is made? a) Debit assets and debit liabilities b) Debit assets and credit liabilities c) Credit assets and debit liabilities d) Credit assets and credit owner's equity
What is Debit assets and credit liabilities
500
All of the following features are advantages of an automated time and attendance system except: a) Less time spent on processing b) Fewer errors introduced during processing c) More time spent on administrative tasks d) Decreased costs
What is More time spent on administrative tasks
500
Each of the following transactions is recorded as an expense except: a) Vacation pay b) Cost of employee benefits c) Employee portion of social security d) Employer portion of social security
What is Employee portion of social security
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