Question 1

What is the most signiﬁcant challenge pertaining to payroll that small businesses face?

Accepted Answer

A) Availability of payroll-trained personnel. 
B) Availability of accounting resources. 
C) Accessibility of on-site payroll guidance. 
D) Accessibility of free on-site payroll software. 
A) Availability of payroll-trained personnel. 
B) Availability of accounting resources. 
C) Accessibility of on-site payroll guidance. 
D) Accessibility of free on-site payroll software.

Question 2

Which of the following is true about independent contractors within the context of payroll?

Accepted Answer

A) A temporary working relationship must exist. 
B) They are employees of the company. 
C) The worker controls hours worked and exercises judgment. 
D) Tools and facilities are provided by the employer. 
A) A temporary working relationship must exist. 
B) They are employees of the company. 
C) The worker controls hours worked and exercises judgment. 
D) Tools and facilities are provided by the employer.

Question 3

The Worker's Compensation Act of 1935 legislated the payment of worker's compensation insurance.

Accepted Answer

A) True 
 B)False

Question 4

The classiﬁcation of workers as exempt and nonexempt pertains to the provisions of the:

Accepted Answer

A) Equal Pay Act. 
B) Federal Insurance Contributions Act. 
C) Social Security Act. 
D) Fair Labor Standards Act. 
A) Equal Pay Act. 
B) Federal Insurance Contributions Act. 
C) Social Security Act. 
D) Fair Labor Standards Act.

Question 5

According to FMLA, during the time that an employee is on family leave:

Accepted Answer

A) The employer is responsible for alerting the employee to changes in processes and beneﬁts. 
B) The employee is responsible for staying in touch with the employer. 
C) The employer may make changes to the employee's beneﬁts. 
D) The employer must not contact the employee during the leave. 
A) The employer is responsible for alerting the employee to changes in processes and beneﬁts. 
B) The employee is responsible for staying in touch with the employer. 
C) The employer may make changes to the employee's beneﬁts. 
D) The employer must not contact the employee during the leave.

Question 6

Payroll taxes were instituted by the 16th Amendment to the United States Constitution:

Accepted Answer

A) To penalize people who needed employment. 
B) To fund infrastructure improvements of booming cities. 
C) To make money from businesses that had employees. 
D) To pay for governmental salaries. 
A) To penalize people who needed employment. 
B) To fund infrastructure improvements of booming cities. 
C) To make money from businesses that had employees. 
D) To pay for governmental salaries.

Question 7

The U.S. v. Windsor case repealed an Act and affected payroll tax withholdings for certain employees. Which Act did Windsor repeal?

Accepted Answer

A) OSHA 
B) ATRA 
C) DOMA 
D) ARRA 
A) OSHA 
B) ATRA 
C) DOMA 
D) ARRA

Question 8

Employers must request a(n) _____ for the Internal Revenue Service to track a ﬁrm's payroll tax obligations.

Accepted Answer

A) Social Security Number 
B) Employer Registration Number 
C) Tax Identiﬁcation Number 
D) Employer Identiﬁcation Number 
A) Social Security Number 
B) Employer Registration Number 
C) Tax Identiﬁcation Number 
D) Employer Identiﬁcation Number

Question 9

The USERRA legislation provided the following:

Accepted Answer

A) Military service members receive mandatory priority during the hiring process. 
B) Military service members receive preferential treatment for promotions and raises during the normal course of business. 
C) Military members must receive the same promotions and compensation that they would have received when they return from active duty. 
D) Injured military veterans must be allowed to return to work, but their compensation may be reduced based on their disability. 
A) Military service members receive mandatory priority during the hiring process. 
B) Military service members receive preferential treatment for promotions and raises during the normal course of business. 
C) Military members must receive the same promotions and compensation that they would have received when they return from active duty. 
D) Injured military veterans must be allowed to return to work, but their compensation may be reduced based on their disability.

Question 10

Which most closely identiﬁes why it is important for payroll accountants to adhere to the Code of
Ethics?

Accepted Answer

A) To maintain company proﬁtability. 
B) To overlook fraudulent actions of company oﬃcers. 
C) To maintain personal standards only. 
D) To protect the assets of the company and remit money owed to the government. 
A) To maintain company proﬁtability. 
B) To overlook fraudulent actions of company oﬃcers. 
C) To maintain personal standards only. 
D) To protect the assets of the company and remit money owed to the government.

Question 11

In the event of an ethical breach by a payroll accountant, which entity is ultimately liable for any monetary damages due to stakeholders?

Accepted Answer

A) The company's CEO or president 
B) The entity that issued the license to the accountant 
C) The governmental entity associated with company oversight 
D) The payroll accountant 
A) The company's CEO or president 
B) The entity that issued the license to the accountant 
C) The governmental entity associated with company oversight 
D) The payroll accountant

Question 12

The ethical principle of due care pertains to the upholding of rights and justice of stakeholders.

Accepted Answer

A) True 
 B)False

Question 13

The Current Tax Payment Act changed employer remittance of taxes by:

Accepted Answer

A) Requiring employers to remit taxes at speciﬁc times during the year. 
B) Legislating the amounts of tax withheld from each employee. 
C) Instituting the mandatory transfer of payroll tax liabilities. 
D) Calling for employers to remit only the current portions of taxes due. 
A) Requiring employers to remit taxes at speciﬁc times during the year. 
B) Legislating the amounts of tax withheld from each employee. 
C) Instituting the mandatory transfer of payroll tax liabilities. 
D) Calling for employers to remit only the current portions of taxes due.

Question 14

The Age Discrimination in Employment Act (ADEA) prohibits discrimination in employment practices for workers who are older than age 50.

Accepted Answer

A) True 
 B)False

What is the most signiﬁcant challenge pertaining to payroll that small businesses face?

Which of the following is true about independent contractors within the context of payroll?

The Worker's Compensation Act of 1935 legislated the payment of worker's compensation insurance.

The classiﬁcation of workers as exempt and nonexempt pertains to the provisions of the:

According to FMLA, during the time that an employee is on family leave:

Payroll taxes were instituted by the 16th Amendment to the United States Constitution:

The U.S. v. Windsor case repealed an Act and affected payroll tax withholdings for certain employees. Which Act did Windsor repeal?

Employers must request a(n) _____ for the Internal Revenue Service to track a ﬁrm's payroll tax obligations.

The USERRA legislation provided the following:

Which most closely identiﬁes why it is important for payroll accountants to adhere to the Code of Ethics?

In the event of an ethical breach by a payroll accountant, which entity is ultimately liable for any monetary damages due to stakeholders?

The ethical principle of due care pertains to the upholding of rights and justice of stakeholders.

The Current Tax Payment Act changed employer remittance of taxes by:

The Age Discrimination in Employment Act (ADEA) prohibits discrimination in employment practices for workers who are older than age 50.

Computing Wages and Salaries

Social Security Taxes

Income Tax Withholding

Unemployment Compensation Taxes

Payroll Project

Filters

Exam 1: The Need for Payroll and Personnel Records

What is the most signiﬁcant challenge pertaining to payroll that small businesses face?

Which of the following is true about independent contractors within the context of payroll?

The Worker's Compensation Act of 1935 legislated the payment of worker's compensation insurance.

The classiﬁcation of workers as exempt and nonexempt pertains to the provisions of the:

According to FMLA, during the time that an employee is on family leave:

Payroll taxes were instituted by the 16th Amendment to the United States Constitution:

The U.S. v. Windsor case repealed an Act and affected payroll tax withholdings for certain employees. Which Act did Windsor repeal?

Employers must request a(n) _____ for the Internal Revenue Service to track a ﬁrm's payroll tax obligations.

The USERRA legislation provided the following:

Which most closely identiﬁes why it is important for payroll accountants to adhere to the Code of Ethics?

In the event of an ethical breach by a payroll accountant, which entity is ultimately liable for any monetary damages due to stakeholders?

The ethical principle of due care pertains to the upholding of rights and justice of stakeholders.

The Current Tax Payment Act changed employer remittance of taxes by:

The Age Discrimination in Employment Act (ADEA) prohibits discrimination in employment practices for workers who are older than age 50.

Computing Wages and Salaries

Social Security Taxes

Income Tax Withholding

Unemployment Compensation Taxes

Payroll Project

Filters