Exam 2: Payroll System Procedures

Payroll records that contain evidence of fraud or other illegal action must be ________.

A payroll review process increases in complexity when:

The ________ mandated that new hires must be reported within ________ days to state authorities.

The two focuses of payroll procedures are company needs and governmental rules.

A company should restrict access to payroll files (paper and/or electronic) as a part of ________.

A payroll accountant is preparing the final pay for a commission-based salesperson who has been terminated from the firm. What will happen to the salesperson's commissions that have been earned But not paid?

When a payroll clerk receives an approved request for an employee's time away from work, he or she should:

A worker who sells life insurance on a full-time basis is considered a statutory employee.

All executive compensation must be:

Josh, who is 21 years of age, is a new employee of XYZ Company. To establish his identity and employment authorization, he could present:

Which pay frequency has 12 pay periods?

Natalie is involuntarily terminated by a company in Alabama. According to state regulations, when must she receive her final pay?

Employers may choose to omit the employees' Social Security numbers in their employee files.

Verification of hours worked and pay accuracy is part of the ________.

IRS Regulation 26 CFR 1.6001 mandates ________ procedures as they pertain to payroll records, noting that it is the responsibility of the ________.

Allen is an employee of the foreign subsidiary of a United States based company who lives and works in the United Kingdom. According to FATCA, how much of his wages may Allen exclude from United States' taxes, according to 2019 guidelines?

Which entity bears the responsibility for gaining approval for a foreign worker visa so a foreign employee may work legally in the United States?

Abigail is a full-time worker whose primary occupation involves extensive overnight travel to visit wholesaler sites on the behalf of a single company. Which of the following classifications most Accurately describes Abigail's employment status?

When developing the internal controls and record retention for a payroll system, a company should:

What types of records does IRS Regulation 26 CFR 1.6001 cover? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a Correct answer and double click the box with the question mark to empty the box for a Wrong answer. Any boxes left with a question mark will be automatically graded as Incorrect.)