QUESTION 14
The employer must withhold FICA and federal income taxes, and pay FUTA tax, when the employee’s tips exceed what amount?

QUESTION 15
The financial statement that is used to evaluate the performance of a business by matching its revenue and related expenses for a particular accounting period is a:

QUESTION 16
What does it mean if, at the end of an accounting period, a company has a debit balance in a liability account?

QUESTION 17
Federal unemployment tax must be accrued for which of the following?

QUESTION 18
Federal tax withheld from a distribution of $50,000 from a qualified retirement plan paid directly to a retiree age 65 is:

QUESTION 19
Which of the following forms pertains to a merger or acquisition?

QUESTION 20
Assume that an independent contractor is a foreign person. What form is he most likely to complete?

QUESTION 21
Beth, who works for Nugget Productions, is enrolled in the company’s cafeteria plan. Beth adopts a child in august, and requests a change in her election under the cafeteria plan. What is the action that may be taken?

QUESTION 22
A company pays all executives semimonthly. The FLSA requires all other employees to be paid on:

QUESTION 23
If an employer pays $320.00 per month for an employee’s parking on or near the employer’s premises, what amount, if any, is included in the employee’s income?

QUESTION 24
Based on the following info, calculate the total deductions from the next paycheck.
* YTD total wages: $28,500
* Monthly salary: $3,000
* Pay frequency: Biweekly
* 2019 Form W-4: Married, 2 allowances
* 401(k): $139
* Pretax medical: $50
* Union dues: $25
* Charitable donation: $10

QUESTION 25
An employee is paid $10.00 per hour plus a production bonus of $0.05 per unit. During the workweek, they worked 46 hours and produced 460 units. Calculate weekly gross pay under FLSA.

QUESTION 26
A plan to ensure business can continue in the event of a flood is called a:

QUESTION 27
For 2009, the mandatory rate of federal income tax withholding on supplemental wages in excess of $1 million is:

QUESTION 28
All of the following amounts should be verified when auditing annual Social Security tax updates in the payroll system EXCEPT:

QUESTION 29
An integrated HRIS offers the advantage of:

QUESTION 30
All of the following factors are advantages of having an in-house developed system EXCEPT:

QUESTION 31
Which of the following forms must the employer receive as authorization to discontinue withholding under a federal tax levy notice?

QUESTION 32
For IRS purposes, the payroll register should be retained for a period of not less than how many years?