Exam 1: The Need for Payroll and Personnel Records

The _____ instituted significant changes to payroll taxes, especially adjustments for inflation and employee income tax computation.

Congress passed the _____ and _____ to assist displaced workers.

Jonathan is the payroll accountant for Terrafirm Company. The company has experienced a rise in business that has increased Jonathan's workload to more than double his original amount. Because of the business increase, he has not been able to engage in the continuing professional education (CPE) that his payroll certification requires. When asked by his employer, Jonathan claims to be current with his CPE. According to the AICPA Code of Ethics, which of the following most closely describes the principle that Jonathan has violated?

Payroll-related legislation often reflects emerging issues in societal evolution.

The Age Discrimination in Employment Act of 1967 prevented mandatory retirement for workers over the age of:

Within how many days after initially commencing work must an employer report a new employee, according to PRWOR?

Which of the following is not an option available to payroll accountants?

Which law requires a company to use certified payroll?

Which form does the Internal Revenue Service use to keep track of employers?

The main purpose of the Federal Insurance Contributions Act (FICA) was to:

The ethical principle of _____ concerns what is right and just for all parties involved.

Joel is the payroll accountant for a company. He has been notified of an impending audit of all accounting records. What is Joel's role in the audit?

Which of the following is a payroll accountant's responsibility?

The _____ mandated that employers verify an employee's legal ability to work in the United States.

Payroll accounting systems may involve an integrated software package that contains business- planning tools.

Many large companies have website portals in which employees may view and change payroll data. Which of the following is the most significant concern about such websites?

The payroll volume tends to be greater for small companies than for large businesses.

If a company chooses to use computer-based accounting, which of the following is required?

The payroll accountant for Candor, Inc. was found to have issued payroll checks in the name of several terminated employees. Upon investigation, the checks were all deposited to the same bank account, which was owned by the payroll accountant. Which ethical principle did the payroll accountant violate?

Worker's compensation is an insurance policy used for