Payroll Management, Finance And Accounting

Question: Payroll system software can be hosted _____________.
A
online

B
on a remote computer

C
on a local computer

D
All of these

Note: Answer not sure
1. Report
Question: What is the purpose of auditing payroll ?
A
To fulfill an IRS requirement

B
To fulfill a GAAP requirement

C
To identify employees who deserve a raise

D
To verify that payroll records are accurate and to reflect what happened

Note: Answer not sure
1. Report
Question: The term "direct deposit" refers to ______________.
A
writing a check for payroll

B
entering an employee's time into the payroll system

C
placing funds directly in an employee's bank account without issuing a paycheck

D
depositing accounts receivable checks into the bank

Note: Answer not sure
1. Report
Question: At ABC School, the current salary schedule for custodians is as follows: Step 1: $12.47 Step 2: $13.09 Step 3: $13.75 Step 4: $14.44 Step 5: $15.16 Employees are moved to the next step on the salary schedule annually. Wages for the year have increased 2.25% from the previous school year. Employee C was paid on Step 2 for the previous school year. Given the above schedule, what is Employee C's pay rate for the current school year?
A
Up to age 20

B
Ages 20 to 25

C
Over 40

D
Over 80

Note: Answer not sure
1. Report
Question: Which of the following accounts is debited when FUTA taxes are paid to the government?
A
FUTA Expense

B
FUTA Payable

C
Wages Payable

D
Wages Expense

Note: Answer not sure
1. Report
Question: The term "overtime" refers to ______________.
A
hours worked each week beyond 27.5

B
hours worked each week beyond 55

C
hours worked each week beyond 80

D
hours worked each week beyond 40

Note: Answer not sure
1. Report
Question: Which of the following factors might prompt a company to switch to an automated payroll system?
A
Income tax rates

B
Number of employees being paid

C
Annual raises are coming up

D
Payroll staff has increased

Note: Answer not sure
1. Report
Question: The term "taxable wages" refers to ______________.
A
all wages earned regardless of amount

B
the maximum calendar year gross wages that are subject to a particular tax

C
commission-based wages only

D
regular wages only

Note: Answer not sure
1. Report
Question: The Circular E: Employer's Tax Guide is ______________.
A
an IRS publication that describes withholding methods

B
an SEC report for public companies

C
another name for an employee handbook

D
a taxation form for unemployment

Note: Answer not sure
1. Report
Question: The term "payroll register" refers to ______________.
A
a weekly report sent to employees detailing the hours they worked

B
a financial statement

C
a time card

D
a payroll record for a payroll period listing all employees, gross wages, deductions, and net pay

Note: Answer not sure
1. Report

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Question: Payroll system software can be hosted _____________.

Question: What is the purpose of auditing payroll ?

Question: The term "direct deposit" refers to ______________.

Question: Which of the following accounts is debited when FUTA taxes are paid to the government?

Question: The term "overtime" refers to ______________.

Question: Which of the following factors might prompt a company to switch to an automated payroll system?

Question: The term "taxable wages" refers to ______________.

Question: The Circular E: Employer's Tax Guide is ______________.

Question: The term "payroll register" refers to ______________.