Question 1

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 2

Why do different methods of time collection devices (e.g., time cards, biometric devices) exist among companies?

Accepted Answer

A)  They replace personnel with computers, which prevents ethical issues. 
B)  They promote compensation accuracy that matches company needs. 
C)  They alleviate the need for internal control. 
D)  They maintain precise tracking of employee whereabouts. 
A)  They replace personnel with computers, which prevents ethical issues. 
B)  They promote compensation accuracy that matches company needs. 
C)  They alleviate the need for internal control. 
D)  They maintain precise tracking of employee whereabouts.

Question 3

Which court case updated the deﬁnition of spouse to include same-sex unions?

Accepted Answer

A)  Obergefell v. Hodges. 
B)  CIGNA v. Amara. 
C)  Young v. Wackenhut. 
D)  Pollard v. DuPont. 
A)  Obergefell v. Hodges. 
B)  CIGNA v. Amara. 
C)  Young v. Wackenhut. 
D)  Pollard v. DuPont.

Question 4

Leslie is the accountant for a major movie production. She is approached by a group of people from the press who ask her questions about the salaries of the actors and actresses involved in the ﬁlm.
According to the Code of Ethics, which principle most closely governs the appropriate conduct in
This situation?

Accepted Answer

A)  Conﬁdentiality 
B)  Professional Competence and Due Care 
C)  Integrity 
D)  Objectivity and Independence 
A)  Conﬁdentiality 
B)  Professional Competence and Due Care 
C)  Integrity 
D)  Objectivity and Independence

Question 5

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 6

Worker's compensation insurance premiums:

Accepted Answer

A)  Are the same amount for all employees of a company, regardless of employee task. 
B)  Are remitted in full at the end of the year to ensure accuracy. 
C)  Are governed by state laws and vary according to worker job classiﬁcation. 
D)  Are mandated by the Fair Labor Standards Act. 
A)  Are the same amount for all employees of a company, regardless of employee task. 
B)  Are remitted in full at the end of the year to ensure accuracy. 
C)  Are governed by state laws and vary according to worker job classiﬁcation. 
D)  Are mandated by the Fair Labor Standards Act.

Question 7

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

Accepted Answer

A)  Payroll preparation through manual, handwritten spreadsheets. 
B)  Reduced responsibility for accuracy because of outsourcing services. 
C)  Increased use of paycards as a vehicle for paying employees. 
D)  Governmentally mandated and monitored payroll outsourcing. 
A)  Payroll preparation through manual, handwritten spreadsheets. 
B)  Reduced responsibility for accuracy because of outsourcing services. 
C)  Increased use of paycards as a vehicle for paying employees. 
D)  Governmentally mandated and monitored payroll outsourcing.

Question 8

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

Accepted Answer

A) True 
 B)False

Question 9

Paycards represent a trend in employee compensation that alleviates the employee's need for:

Accepted Answer

A)  Filing data about time worked. 
B)  Workplace competence. 
C)  Functional literacy. 
D)  Bank account establishment. 
A)  Filing data about time worked. 
B)  Workplace competence. 
C)  Functional literacy. 
D)  Bank account establishment.

Question 10

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

Accepted Answer

A)  50. 
B)  55. 
C)  45. 
D)  40. 
A)  50. 
B)  55. 
C)  45. 
D)  40.

Question 11

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

Accepted Answer

A)  Mandate worker's compensation insurance for employers. 
B)  Provide life insurance for all employees. 
C)  Provide health insurance for all employees. 
D)  Provide beneﬁts for workers who were unable to work because of age, disability, or death. 
A)  Mandate worker's compensation insurance for employers. 
B)  Provide life insurance for all employees. 
C)  Provide health insurance for all employees. 
D)  Provide beneﬁts for workers who were unable to work because of age, disability, or death.

Question 12

According to the Public Company Accounting Oversight Board, personal or family ownership in excess of ﬁve percent of a client's business may compromise an accountant's

Accepted Answer

A)  Objectivity and Independence. 
B)  Professional Competence and Due Care. 
C)  Professionalism. 
D)  Integrity. 
A)  Objectivity and Independence. 
B)  Professional Competence and Due Care. 
C)  Professionalism. 
D)  Integrity.

Question 13

Which privacy act safeguards information contained in private personnel records and mandates information safekeeping?

Accepted Answer

A)  Computer Fraud and Abuse Act of 1986. 
B)  Privacy Act of 1974. 
C)  DHHS Privacy Act 09-04-0006. 
D)  Common Law Privacy Act. 
A)  Computer Fraud and Abuse Act of 1986. 
B)  Privacy Act of 1974. 
C)  DHHS Privacy Act 09-04-0006. 
D)  Common Law Privacy Act.

Question 14

Congress passed the ________ and ________ to assist displaced workers.

Accepted Answer

A)  16th Amendment; Fair Labor Standards Act 
B)  Federal Unemployment Tax Act; Social Security Insurance Act 
C)  Social Security Act; Medicare Act 
D)  Federal Income Contributions Act; Federal Unemployment Tax Act 
A)  16th Amendment; Fair Labor Standards Act 
B)  Federal Unemployment Tax Act; Social Security Insurance Act 
C)  Social Security Act; Medicare Act 
D)  Federal Income Contributions Act; Federal Unemployment Tax Act

Question 15

Why is outsourced payroll popular among accounting professionals?

Accepted Answer

A)  Records generated by outsourced vendors are not subject to retention rules. 
B)  Payroll processing is always simpler and quicker. 
C)  Time required for payroll processing is reduced. 
D)  Data generated by the outsource company is completely accurate. 
A)  Records generated by outsourced vendors are not subject to retention rules. 
B)  Payroll processing is always simpler and quicker. 
C)  Time required for payroll processing is reduced. 
D)  Data generated by the outsource company is completely accurate.

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

Why do different methods of time collection devices (e.g., time cards, biometric devices) exist among companies?

Which court case updated the deﬁnition of spouse to include same-sex unions?

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

Worker's compensation insurance premiums:

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

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

Paycards represent a trend in employee compensation that alleviates the employee's need for:

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

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

According to the Public Company Accounting Oversight Board, personal or family ownership in excess of ﬁve percent of a client's business may compromise an accountant's

Which privacy act safeguards information contained in private personnel records and mandates information safekeeping?

Congress passed the and to assist displaced workers.

Why is outsourced payroll popular among accounting professionals?

Payroll System Procedures

Gross Pay Computation

Fringe Benefits and Voluntary Deductions

Employee Net Pay and Pay Methods

Employer Payroll Taxes and Labor Planning

The Payroll Register, Employees Earnings Records, and Accounting System Entries

Filters

Exam 1: Payroll Practices and System Fundamentals

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

Why do different methods of time collection devices (e.g., time cards, biometric devices) exist among companies?

Which court case updated the deﬁnition of spouse to include same-sex unions?

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

Worker's compensation insurance premiums:

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

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

Paycards represent a trend in employee compensation that alleviates the employee's need for:

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

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

According to the Public Company Accounting Oversight Board, personal or family ownership in excess of ﬁve percent of a client's business may compromise an accountant's

Which privacy act safeguards information contained in private personnel records and mandates information safekeeping?

Congress passed the ________ and ________ to assist displaced workers.

Why is outsourced payroll popular among accounting professionals?

Payroll System Procedures

Gross Pay Computation

Fringe Benefits and Voluntary Deductions

Employee Net Pay and Pay Methods

Employer Payroll Taxes and Labor Planning

The Payroll Register, Employees Earnings Records, and Accounting System Entries

Filters

Congress passed the and to assist displaced workers.