Accounting Fundamentals
Payroll Comprehensive
Questions (Frequently Most
Tested) with Verified Answers
Benefits - Answer: additional employee compensation which may be monetary in nature
Employee Earnings Records - Answer: record which displays the history of an employee's payroll,
reflecting earnings, deductions and employee personal data; assists employees in providing evidence to
support their employment claims when needed
Employee Net Pay - Answer: amount a person is paid after subtracting all taxes, mandatory deductions
and voluntary deductions
Employee Register - Answer: document or file used to store information about payroll disbursals for
each pay period, including all deductions and totals needed for general journal entries
Employee Withholdings - Answer: amount of employee wages not included in the employee's paycheck
because of tax withholdings and voluntary deductions such as retirement plans and insurance
Employer Payroll taxes - Answer: payroll taxes which must be remitted by the employer such as FICA
taxes, state unemployment taxes and federal unemployment taxes
Gross Earnings - Companies - Answer: profits left over after subtracting cost of goods sold,
administrative and other expenses from net sales
Gross earnings - Individuals - Answer: total income earned in a year before any tax deductions or
adjustments
I-9 Form - Answer: mandatory employer form for which must be completed to document the legal
employment eligibility of each employee
Payroll Comprehensive
Questions (Frequently Most
Tested) with Verified Answers
Benefits - Answer: additional employee compensation which may be monetary in nature
Employee Earnings Records - Answer: record which displays the history of an employee's payroll,
reflecting earnings, deductions and employee personal data; assists employees in providing evidence to
support their employment claims when needed
Employee Net Pay - Answer: amount a person is paid after subtracting all taxes, mandatory deductions
and voluntary deductions
Employee Register - Answer: document or file used to store information about payroll disbursals for
each pay period, including all deductions and totals needed for general journal entries
Employee Withholdings - Answer: amount of employee wages not included in the employee's paycheck
because of tax withholdings and voluntary deductions such as retirement plans and insurance
Employer Payroll taxes - Answer: payroll taxes which must be remitted by the employer such as FICA
taxes, state unemployment taxes and federal unemployment taxes
Gross Earnings - Companies - Answer: profits left over after subtracting cost of goods sold,
administrative and other expenses from net sales
Gross earnings - Individuals - Answer: total income earned in a year before any tax deductions or
adjustments
I-9 Form - Answer: mandatory employer form for which must be completed to document the legal
employment eligibility of each employee
