Payroll Management, Finance And Accounting

Question: A company must send W2 forms every year to its employees by _____________.
A
January 31

B
February 28

C
June 30

D
September 30

Note: Not available
1. Report
Question: The term "guaranteed wage" refers to ______________.
A
regular per-hour wages

B
overtime pay beyond 60 hours per week

C
a payroll deduction

D
an agreement to pay an employee a set amount, regardless of hours worked

Note: Answer not sure
1. Report
Question: The term "escheat law" refers to ____________.
A
a law that states employees must be paid twice per month

B
a law that requires employers to hold un-cashed payroll checks for a certain amount of time

C
A law that states employees cannot be over the age of 65

D
A law that states employees can be given raises only once per year

Note: Answer not sure
1. Report
Question: Which of the following journal entries would be made to void a payroll check printed in error?
A
Dr: Salary Payable, Cr: Salary Expense

B
Dr: Salary Expense, Cr: Cash

C
Dr: Cash, Cr: Salary Payable

D
Dr: Cash, Cr: Salary Expense

Note: Answer not sure
1. Report
Question: What is Form W3?
A
A detailed version of Form W2

B
An annual tax filing form for private corporations

C
A form filed with the Social Security Administration summarizing all employee W2s

D
The same as Form 941

Note: Answer not sure
1. Report
Question: The Fair Labor Standards Act of 1938 __________________.
A
established equal employment laws for women and children

B
abolished slave labor

C
Set standard wages for hours worked

D
Set the minimum wage at $8 per hour

Note: Answer not sure
1. Report
Question: Which of the following is a major payroll processor?
A
ADP

B
IRS

C
FASB

D
SEC

Note: Answer not sure
1. Report
Question: The term "incentive payment plan" refers to _______________.
A
regular wage payments

B
a compensation plan based on company performance

C
another name for termination pay

D
a compensation plan in which employees earn more when they reach certain goals

Note: Answer not sure
1. Report
Question: The term "cumulative method of withholding" refers to ______________.
A
the calculation of minimum wage rates

B
a federal income tax withholding method that applies a formula with both fixed and variable components to the wage amounts

C
a federal income tax withholding method that takes into account gross earnings, payroll period, marital status, and number of withholding allowances

D
A federal income tax withholding method in which the current withholding amount is determined by cumulative wages and the amount that has already been withheld

Note: Answer not sure
1. Report
Question: A company must file Form W3 every year by _____________.
A
January 31

B
September 30

C
February 28

D
December 31

Note: Answer not sure
1. Report

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Question: A company must send W2 forms every year to its employees by _____________.

Question: The term "guaranteed wage" refers to ______________.

Question: The term "escheat law" refers to ____________.

Question: Which of the following journal entries would be made to void a payroll check printed in error?

Question: What is Form W3?

Question: The Fair Labor Standards Act of 1938 __________________.

Question: Which of the following is a major payroll processor?

Question: The term "incentive payment plan" refers to _______________.

Question: The term "cumulative method of withholding" refers to ______________.

Question: A company must file Form W3 every year by _____________.