Finance And Accounting

Question: The term "bona fide occupational qualification" refers to _______________.
A
the Equal Pay Act

B
a qualification that allows an employer to hire based on race, religion, or gender

C
a qualification that forces employers to hire based on race, religion, or gender

D
a qualification that does not allow an employer to hire based on race, religion, or gender

Note: Answer not sure
1. Report
Question: Who issues an EIN to a company?
A
FASB

B
IRS

C
Federal government

D
State government

Note: Answer not sure
1. Report
Question: Who controls the regulations for the timing of payment of wages?
A
Federal government

B
State government

C
City government

D
Municipal government

Note: Answer not sure
1. Report
Question: Are meals provided on the company's premises subject to employment taxes as a benefit?
A
Yes

B
No

C
Depends on employee job

D
Depends on state

Note: Answer not sure
1. Report
Question: The Equal Pay Act ____________________.
A
outlawed the practice of paying people different amounts based on gender

B
states that all employees must be paid the same rate for the same position

C
states that all companies must pay their executives the same amount

D
states that all underage children must be paid less than the minimum wage

Note: Answer not sure
1. Report
Question: How are FUTA taxes recorded at the time of payroll?
A
As revenue

B
As a liability

C
As an asset

D
As equity

Note: Answer not sure
1. Report
Question: Which of the following is a disadvantage of an automated payroll system?
A
Less accurate tax reporting

B
More costly than manually preparing payroll

C
Employees will be laid off since the automated system requires less labor

D
Employees need a degree in accounting to be able to process payroll

Note: Answer not sure
1. Report
Question: Which of the following illustrates the basic Balance Sheet formula?
A
Assets + Liabilities = Equity

B
Assets + Equity = Liabilities

C
Equity - Liabilities = Assets

D
Assets = Liabilities + Equity

Note: Answer not sure
1. Report
Question: The term "employee earnings record" refers to ______________.
A
a payroll record for each employee listing the gross wages, deductions, net pay, and cumulative earnings

B
a record sent to the IRS at year end detailing an employee's earnings

C
a weekly report sent to employees with their paychecks

D
an IRS-issued report mailed to employees' homes

Note: Answer not sure
1. Report
Question: The term "commission plan" refers to ______________.
A
a compensation plan in which the employee earns a percentage of sales.

B
a compensation plan in which employees are paid based on units produced

C
termination pay

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

Note: Answer not sure
1. Report

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Question: The term "bona fide occupational qualification" refers to _______________.

Question: Who issues an EIN to a company?

Question: Who controls the regulations for the timing of payment of wages?

Question: Are meals provided on the company's premises subject to employment taxes as a benefit?

Question: The Equal Pay Act ____________________.

Question: How are FUTA taxes recorded at the time of payroll?

Question: Which of the following is a disadvantage of an automated payroll system?

Question: Which of the following illustrates the basic Balance Sheet formula?

Question: The term "employee earnings record" refers to ______________.

Question: The term "commission plan" refers to ______________.