Question 1

What is the purpose of a general ledger payroll clearing account?

Accepted Answer

A) to check the accuracy and completeness of payroll recording and its allocation to cost centers 
B) to make the bank reconciliation easier 
C) to make sure that all employees are paid correctly each week 
D) to prevent the cashier from having complete control of the payroll cycle 
A) to check the accuracy and completeness of payroll recording and its allocation to cost centers 
B) to make the bank reconciliation easier 
C) to make sure that all employees are paid correctly each week 
D) to prevent the cashier from having complete control of the payroll cycle

Question 2

In a batch system,the payroll transaction file would contain

Accepted Answer

A) entries to add new hires. 
B) time card data. 
C) changes in tax rates. 
D) All of the above are correct. 
A) entries to add new hires. 
B) time card data. 
C) changes in tax rates. 
D) All of the above are correct.

Question 3

Part of the calculation necessary to process a payroll involves summing payroll deductions and subtracting the total from an employee's gross pay to arrive at net pay.Payroll deductions fall into two broad categories.Which deduction below would not be considered a voluntary deduction?

Accepted Answer

A) disability insurance 
B) pension plan contribution 
C) union dues 
D) social security taxes 
A) disability insurance 
B) pension plan contribution 
C) union dues 
D) social security taxes

Question 4

The average annual middle-management salary at Folding Squid Technologies is $60,000.If the average turnover rate for middle management is ten employees per year,what is the approximate average annual cost of turnover?

Accepted Answer

A) $300,000 
B) $600,000 
C) $900,000 
D) $1,200,000 
A) $300,000 
B) $600,000 
C) $900,000 
D) $1,200,000

Question 5

Define an HRM/payroll cycle.What are the basic activities in an HRM/payroll cycle?

Accepted Answer

The HRM/payroll cycle is a recurring set

Question 6

Which of the following occurs nearest the start of the payroll cycle?

Accepted Answer

A) Update payroll master file 
B) Disburse payroll taxes and miscellaneous deductions 
C) Disburse payroll 
D) Prepare payroll 
A) Update payroll master file 
B) Disburse payroll taxes and miscellaneous deductions 
C) Disburse payroll 
D) Prepare payroll

Question 7

Which of the following will limit a firm's potential loss exposure from paycheck forgery?

Accepted Answer

A) Segregation of check distribution from payroll duties 
B) Prompt redeposit of unclaimed paychecks 
C) A separate payroll bank account 
D) Direct deposit of checks 
A) Segregation of check distribution from payroll duties 
B) Prompt redeposit of unclaimed paychecks 
C) A separate payroll bank account 
D) Direct deposit of checks

Question 8

The employer pays a portion of some payroll taxes and employee benefits.Both the employee and employer pay which benefit or tax listed below?

Accepted Answer

A) social security taxes 
B) federal income taxes 
C) state income taxes 
D) none of the above 
A) social security taxes 
B) federal income taxes 
C) state income taxes 
D) none of the above

Question 9

Which HR report is sent to each employee for use in preparing individual tax returns?

Accepted Answer

A) Form 941 
B) Form W-2 
C) Form W-4 
D) Form 1099 
A) Form 941 
B) Form W-2 
C) Form W-4 
D) Form 1099

Question 10

Why is a separate payroll account used to clear payroll checks?

Accepted Answer

A) for internal control purposes to help limit any exposure to loss by the company 
B) to make bank reconciliation easier 
C) banks don't like to commingle payroll and expense checks 
D) All of the above are correct. 
A) for internal control purposes to help limit any exposure to loss by the company 
B) to make bank reconciliation easier 
C) banks don't like to commingle payroll and expense checks 
D) All of the above are correct.

Question 11

Which one of the following is most likely to be positively correlated with employee morale?

Accepted Answer

A) Turnover rate 
B) Profitability 
C) Defect rate 
D) Overhead 
A) Turnover rate 
B) Profitability 
C) Defect rate 
D) Overhead

Question 12

The fourth step in the payroll cycle is preparing payroll.Pay rate information is needed in order to complete this task.The pay rate information is accessed by the system from __________.

Accepted Answer

A) the employees' personnel files 
B) the employee subsidiary ledger 
C) the payroll master file 
D) electronic time cards 
A) the employees' personnel files 
B) the employee subsidiary ledger 
C) the payroll master file 
D) electronic time cards

Question 13

One step in the payroll cycle is the preparation of paychecks.In the next step the payroll register is sent to accounts payable for review.What is the following step in the process?

Accepted Answer

A) The paychecks are distributed to the employees. 
B) A disbursement voucher is prepared to authorize the transfer of funds from the company's general account. 
C) The payroll taxes are computed. 
D) The earnings statements are printed. 
A) The paychecks are distributed to the employees. 
B) A disbursement voucher is prepared to authorize the transfer of funds from the company's general account. 
C) The payroll taxes are computed. 
D) The earnings statements are printed.

Question 14

Given the four activities below,which of the HRM/payroll cycle activities occurs infrequently relative to the others?

Accepted Answer

A) updating of the payroll master file 
B) updating information about tax rates and withholdings 
C) validating each employee's time and attendance data 
D) preparing payroll 
A) updating of the payroll master file 
B) updating information about tax rates and withholdings 
C) validating each employee's time and attendance data 
D) preparing payroll

Question 15

Explain the functions of the payroll register,deduction register,and earnings statement.

Accepted Answer

The payroll register is a report that li

Question 16

Direct deposit of employee paychecks is one way an organization can improve efficiency and reduce payroll-processing costs.Which statement regarding direct deposit is incorrect?

Accepted Answer

A) The cashier does not have to authorize the transfer of funds from the organization's checking account to a payroll checking account. 
B) The cashier does not have to sign employee paychecks. 
C) Employees who are part of a direct deposit program receive a copy of their paycheck indicating the amount deposited. 
D) Employees who are part of a direct deposit program receive an employee earnings statement. 
A) The cashier does not have to authorize the transfer of funds from the organization's checking account to a payroll checking account. 
B) The cashier does not have to sign employee paychecks. 
C) Employees who are part of a direct deposit program receive a copy of their paycheck indicating the amount deposited. 
D) Employees who are part of a direct deposit program receive an employee earnings statement.

Question 17

Which of the following forms is used to report an employee's wages and witholdings?

Accepted Answer

A) 941 
B) W-2 
C) W-3 
D) 1099-Misc. 
A) 941 
B) W-2 
C) W-3 
D) 1099-Misc.

Question 18

The document that lists each employee's gross pay,payroll deductions,and net pay in a multicolumn format is called

Accepted Answer

A) an employee earnings statement. 
B) the payroll register. 
C) a deduction register. 
D) an employee time sheet summary. 
A) an employee earnings statement. 
B) the payroll register. 
C) a deduction register. 
D) an employee time sheet summary.

Question 19

In the payroll system,checks are issued to

Accepted Answer

A) employees and to banks participating in direct deposit. 
B) a separate payroll bank account. 
C) government agencies. 
D) All of the above are correct. 
A) employees and to banks participating in direct deposit. 
B) a separate payroll bank account. 
C) government agencies. 
D) All of the above are correct.

Question 20

Which type of payroll report lists the miscellaneous voluntary deductions for each employee?

Accepted Answer

A) payroll register 
B) deduction register 
C) earnings statement 
D) federal W-4 form 
A) payroll register 
B) deduction register 
C) earnings statement 
D) federal W-4 form

What is the purpose of a general ledger payroll clearing account?

In a batch system,the payroll transaction file would contain

Part of the calculation necessary to process a payroll involves summing payroll deductions and subtracting the total from an employee's gross pay to arrive at net pay.Payroll deductions fall into two broad categories.Which deduction below would not be considered a voluntary deduction?

The average annual middle-management salary at Folding Squid Technologies is $60,000.If the average turnover rate for middle management is ten employees per year,what is the approximate average annual cost of turnover?

Define an HRM/payroll cycle.What are the basic activities in an HRM/payroll cycle?

Which of the following occurs nearest the start of the payroll cycle?

Which of the following will limit a firm's potential loss exposure from paycheck forgery?

The employer pays a portion of some payroll taxes and employee benefits.Both the employee and employer pay which benefit or tax listed below?

Which HR report is sent to each employee for use in preparing individual tax returns?

Why is a separate payroll account used to clear payroll checks?

Which one of the following is most likely to be positively correlated with employee morale?

The fourth step in the payroll cycle is preparing payroll.Pay rate information is needed in order to complete this task.The pay rate information is accessed by the system from __________.

One step in the payroll cycle is the preparation of paychecks.In the next step the payroll register is sent to accounts payable for review.What is the following step in the process?

Given the four activities below,which of the HRM/payroll cycle activities occurs infrequently relative to the others?

Explain the functions of the payroll register,deduction register,and earnings statement.

Direct deposit of employee paychecks is one way an organization can improve efficiency and reduce payroll-processing costs.Which statement regarding direct deposit is incorrect?

Which of the following forms is used to report an employee's wages and witholdings?

The document that lists each employee's gross pay,payroll deductions,and net pay in a multicolumn format is called

In the payroll system,checks are issued to

Which type of payroll report lists the miscellaneous voluntary deductions for each employee?

Accounting Information Systems

Overview of Business Processes

Systems Development and Documentation Techniques

Relational Databases

Computer Fraud and Security

Control and Accounting Information Systems

Infromation System Controls for Systems Reliability

Auditing Computer-Based Information Systems

Auditing Computer-Based Informtion Systems

The Revenue Cycle: Sales an Cash Collections

The Expenditure Cycle: Purchasing and Cash Disbursements

The Production Cycle

General Ledger and Reporting System

Data Modeling and Database Design

Implementing an Rea Model in a Relational Database

Special Topics in Rea Modeling

Introduction to Systems Development and Systems Analysis

Ais Development Strategies

Systems Design, Implementation and Operation

Filters

Exam 13: The Human Resources Managementpayroll Cycle

What is the purpose of a general ledger payroll clearing account?

In a batch system,the payroll transaction file would contain

Part of the calculation necessary to process a payroll involves summing payroll deductions and subtracting the total from an employee's gross pay to arrive at net pay.Payroll deductions fall into two broad categories.Which deduction below would not be considered a voluntary deduction?

The average annual middle-management salary at Folding Squid Technologies is $60,000.If the average turnover rate for middle management is ten employees per year,what is the approximate average annual cost of turnover?

Define an HRM/payroll cycle.What are the basic activities in an HRM/payroll cycle?

Which of the following occurs nearest the start of the payroll cycle?

Which of the following will limit a firm's potential loss exposure from paycheck forgery?

The employer pays a portion of some payroll taxes and employee benefits.Both the employee and employer pay which benefit or tax listed below?

Which HR report is sent to each employee for use in preparing individual tax returns?

Why is a separate payroll account used to clear payroll checks?

Which one of the following is most likely to be positively correlated with employee morale?

The fourth step in the payroll cycle is preparing payroll.Pay rate information is needed in order to complete this task.The pay rate information is accessed by the system from __________.

One step in the payroll cycle is the preparation of paychecks.In the next step the payroll register is sent to accounts payable for review.What is the following step in the process?

Given the four activities below,which of the HRM/payroll cycle activities occurs infrequently relative to the others?

Explain the functions of the payroll register,deduction register,and earnings statement.

Direct deposit of employee paychecks is one way an organization can improve efficiency and reduce payroll-processing costs.Which statement regarding direct deposit is incorrect?

Which of the following forms is used to report an employee's wages and witholdings?

The document that lists each employee's gross pay,payroll deductions,and net pay in a multicolumn format is called

In the payroll system,checks are issued to

Which type of payroll report lists the miscellaneous voluntary deductions for each employee?

Accounting Information Systems

Overview of Business Processes

Systems Development and Documentation Techniques

Relational Databases

Computer Fraud and Security

Control and Accounting Information Systems

Infromation System Controls for Systems Reliability

Auditing Computer-Based Information Systems

Auditing Computer-Based Informtion Systems

The Revenue Cycle: Sales an Cash Collections

The Expenditure Cycle: Purchasing and Cash Disbursements

The Production Cycle

General Ledger and Reporting System

Data Modeling and Database Design

Implementing an Rea Model in a Relational Database

Special Topics in Rea Modeling

Introduction to Systems Development and Systems Analysis

Ais Development Strategies

Systems Design, Implementation and Operation

Filters