Question 1

Which of the following is among the guidelines for the AICPA Code of Ethics?

Accepted Answer

A)  Company Interest 
B)  Corporate Responsibility 
C)  Due Care 
D)  Interdependence 
A)  Company Interest 
B)  Corporate Responsibility 
C)  Due Care 
D)  Interdependence

Question 2

An accountant must remain current in his or her knowledge of current payroll practices,according to the ethical principle of __________________.

Accepted Answer

A)  Responsibilities. 
B)  Public Interest. 
C)  Due Care. 
D)  Integrity. 
A)  Responsibilities. 
B)  Public Interest. 
C)  Due Care. 
D)  Integrity.

Question 3

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

Accepted Answer

A)  7 
B)  10 
C)  20 
D)  30 
A)  7 
B)  10 
C)  20 
D)  30

Question 4

An example of an accounting software package that fosters electronic payroll processing is:

Accepted Answer

A)  Sage Books. 
B)  Quick50. 
C)  QuickBooks. 
D)  GreatBooks. 
A)  Sage Books. 
B)  Quick50. 
C)  QuickBooks. 
D)  GreatBooks.

Question 5

Ryan is an independent contractor for a firm.His employer must:

Accepted Answer

A)  Dictate the amount of work he performs. 
B)  Control the amount and nature of his working hours. 
C)  Provide all tools and an appropriate workspace. 
D)  Control only deliverables and work content. 
A)  Dictate the amount of work he performs. 
B)  Control the amount and nature of his working hours. 
C)  Provide all tools and an appropriate workspace. 
D)  Control only deliverables and work content.

Question 6

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 AICPA Code of Ethics,which principle most closely governs the appropriate conduct in this situation?

Accepted Answer

A)  Responsibilities 
B)  Due Care 
C)  Integrity 
D)  Public Interest 
A)  Responsibilities 
B)  Due Care 
C)  Integrity 
D)  Public Interest

Question 7

Internal payroll reports are used to inform a firm's managers and decision-makers about labor costs.

Accepted Answer

A) True 
 B)False

Question 8

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

Question 9

The Lilly Ledbetter Act of 2009 mandated equal pay for men and women who perform identical tasks.

Accepted Answer

A) True 
 B)False

Question 10

What is the difference in pay practices between salaried exempt and salaried nonexempt workers?

Accepted Answer

A)  Salaried exempt workers may only work eight hours per day. 
B)  Salaried nonexempt workers must not work overtime hours. 
C)  Salaried exempt workers must work between 45 and 50 hours per week. 
D)  Salaried nonexempt workers are eligible for overtime pay. 
A)  Salaried exempt workers may only work eight hours per day. 
B)  Salaried nonexempt workers must not work overtime hours. 
C)  Salaried exempt workers must work between 45 and 50 hours per week. 
D)  Salaried nonexempt workers are eligible for overtime pay.

Which of the following is among the guidelines for the AICPA Code of Ethics?

An accountant must remain current in his or her knowledge of current payroll practices,according to the ethical principle of __________________.

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

An example of an accounting software package that fosters electronic payroll processing is:

Ryan is an independent contractor for a firm.His employer must:

Internal payroll reports are used to inform a firm's managers and decision-makers about labor costs.

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

The Lilly Ledbetter Act of 2009 mandated equal pay for men and women who perform identical tasks.

What is the difference in pay practices between salaried exempt and salaried nonexempt workers?

Payroll System Procedures

Gross Pay Computation

Employee Net Pay and Pay Methods

Employer Payroll Taxes and Labor Planning

Payroll Register, Employee Earning Records, and Accounting System Entries

Filters

Exam 1: Payroll Practices and System Functions

Which of the following is among the guidelines for the AICPA Code of Ethics?

An accountant must remain current in his or her knowledge of current payroll practices,according to the ethical principle of __________________.

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

An example of an accounting software package that fosters electronic payroll processing is:

Ryan is an independent contractor for a firm.His employer must:

Internal payroll reports are used to inform a firm's managers and decision-makers about labor costs.

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

The Lilly Ledbetter Act of 2009 mandated equal pay for men and women who perform identical tasks.

What is the difference in pay practices between salaried exempt and salaried nonexempt workers?

Payroll System Procedures

Gross Pay Computation

Employee Net Pay and Pay Methods

Employer Payroll Taxes and Labor Planning

Payroll Register, Employee Earning Records, and Accounting System Entries

Filters