Exam 2: Payroll System Procedures

Computerized payroll records are considered a(n):

Which of the following is subject to overtime in the process of hourly computations, according to FLSA?

Which of the following is a potential consequence of incorrect calculation of employee time for payroll purposes? (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.)

According to the Fair Labor Standards Act, nonexempt workers receive overtime for:

Geoff is the payroll clerk for a firm that maintains its payroll through computerized records on a centralized server. One of his responsibilities is employee file maintenance, including the Destruction of records after the retention time has elapsed. His method of purging employee Records is to delete the file from the database. What other record destruction procedures should Geoff follow?

Employee file maintenance is the responsibility of the:

Which of the following is/are purpose(s) of new hire reporting laws? (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.)

What is the difference between termination and resignation, as far as final pay is concerned?

Multistate employers must do which of the following for new hire reporting? (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.)

It is considered a best practice to assign one employee for all payroll duties.

Which of the following items must exist in every employee's payroll file?

A company should assign ________ employee(s) the responsibility for signing payroll checks and disbursements.

Georgeanne works in a company for which her primary job function is the sale of company products to consumers. She receives a percentage of each sale as part of her compensation. Her Compensation contains a ________ element.

________ payroll is processed every two weeks and will usually result in a lower gross pay per pay period than ________ payroll.

Foreign workers in the United States are subject to new hire reporting regulations.

Upon termination from a firm, the employer must disburse the former employee's final pay ________.

The retention period for payroll documents commences:

Ibrahim is the payroll accountant for a firm. He notes that the firm has hired a new employee. What forms must he collect from the new employee?

Mako was an employee of the Jaeger Corporation. After she voluntarily terminated employment, auditors discovered evidence of fraudulent activity that they traced to her. Mako's records must be Retained:

Max Johnson was terminated from a company in South Carolina because of a reduction in workforce. Which statement best describes the state's requirements for disbursement of his final Pay?