Payroll /
Fundamentals
/ //
1 Midterm Exam Questions With Correct Answers
// // // // // //
Commencement //package //(Ch.1) //- //CORRECT //ANSWERS(S)✔✔-
Organization //specific //forms //(personal //information //forms)
-Government //forms //(federal //and //provincial //personal //tax //credits //return) //
-Benefit //forms //(insurance //enrollment //forms)
Hiring /
/form /
/(ch.1) //- /
/CORRECT /
/ANSWERS(S)✔✔May /
/include /
/information /
/on /
/their /
/position /
/such //as //department, //manager, //start //date, //salary/hourly //wage, //and //benefit //entitlement
Information //that //must //be //provided //to //employees //(ch.1) //- //CORRECT //ANSWERS(S)✔✔-
Employee //name
-Date //of //pay //period
-Rates //of //pay //and //hours //of //work //at //each //rate
-Gross //earnings
-Itemized //deductions
-Net //pay
,TD1- /
/WS //is //used //to //calculate //partial //claim //amounts //for... //(ch.1) //- //CORRECT //ANSWERS(S)✔✔-
Age
-Canada //caregiver //amount //for //eligible //dependent //or //spouse //or //common-law //partner
-Canada //caregiver //amount //for //dependent(s) //age //18 //or //over
Federal //TD1, //Provincial/territorial //TD1, //and //Quebec //TP-1015.3-
V //require... //(ch.1) //- //CORRECT //ANSWERS(S)✔✔-Name
-Date //of //birth
-Social //insurance //number
Other /
/credits /
/employees /
/can /
/claim /
/on /
/their /
/Federal //and //Provincial/Territorial //TD1 //to //lower //taxes //(ch.1) //- //CORRECT //ANSWERS(S)✔✔-
Being //a //caregiver
-Being //over //65
-Receiving //a //pension //
-Being //or //supporting //a //student //in //post-secondary //studies
-Being //disabled
-Supporting //a //spouce
-Living //alone //(Quebec)
-Having //children //under //18 //(Saskatchewan //and //Yukon)
Do /
/you /
, /have /
/to //claim //basic //personal //provincial/territorial //credits? //(ch.1) //- //CORRECT //ANSWERS(S)✔✔-
No, //if //only //doing //basic
-Yes, //if //claiming //children //under //18 //(Sakatchewan //and //Yukon)
-Yes, //always //(Quebec)
Employers //should //review //TD1 //and //TP-1015.3-
V //forms //to //ensure //(ch.2) //- //CORRECT //ANSWERS(S)✔✔-
Correct //employee //name, //Date //of //birth, //Address, //and //SIN
-Correct //amounts //on //the //form
-Amounts //claimed //are //totaled //correctly
-Form //does //not //contain //obvious //false //statements
-The //form //is //signed //a //dated
What /
/certain /
/information /
/must //appear //on //an //employee's //statement //of //wages? //(ch.2) //- //CORRECT //ANSWERS(S)✔✔-
Name
-Rate //of //pay //and //hours //worked //at //each //rate
-Date //of //pay //period
-Gross //and //net //pay
-Itemized //deductions
Renumeration /
/(ch.2) //- /
/CORRECT /
/ANSWERS(S)✔✔Employee //received //compensation //or //pay //for //the //services //they //perform //
-AKA //employee //income //when //employer-employee //relationship //exists
Fundamentals
/ //
1 Midterm Exam Questions With Correct Answers
// // // // // //
Commencement //package //(Ch.1) //- //CORRECT //ANSWERS(S)✔✔-
Organization //specific //forms //(personal //information //forms)
-Government //forms //(federal //and //provincial //personal //tax //credits //return) //
-Benefit //forms //(insurance //enrollment //forms)
Hiring /
/form /
/(ch.1) //- /
/CORRECT /
/ANSWERS(S)✔✔May /
/include /
/information /
/on /
/their /
/position /
/such //as //department, //manager, //start //date, //salary/hourly //wage, //and //benefit //entitlement
Information //that //must //be //provided //to //employees //(ch.1) //- //CORRECT //ANSWERS(S)✔✔-
Employee //name
-Date //of //pay //period
-Rates //of //pay //and //hours //of //work //at //each //rate
-Gross //earnings
-Itemized //deductions
-Net //pay
,TD1- /
/WS //is //used //to //calculate //partial //claim //amounts //for... //(ch.1) //- //CORRECT //ANSWERS(S)✔✔-
Age
-Canada //caregiver //amount //for //eligible //dependent //or //spouse //or //common-law //partner
-Canada //caregiver //amount //for //dependent(s) //age //18 //or //over
Federal //TD1, //Provincial/territorial //TD1, //and //Quebec //TP-1015.3-
V //require... //(ch.1) //- //CORRECT //ANSWERS(S)✔✔-Name
-Date //of //birth
-Social //insurance //number
Other /
/credits /
/employees /
/can /
/claim /
/on /
/their /
/Federal //and //Provincial/Territorial //TD1 //to //lower //taxes //(ch.1) //- //CORRECT //ANSWERS(S)✔✔-
Being //a //caregiver
-Being //over //65
-Receiving //a //pension //
-Being //or //supporting //a //student //in //post-secondary //studies
-Being //disabled
-Supporting //a //spouce
-Living //alone //(Quebec)
-Having //children //under //18 //(Saskatchewan //and //Yukon)
Do /
/you /
, /have /
/to //claim //basic //personal //provincial/territorial //credits? //(ch.1) //- //CORRECT //ANSWERS(S)✔✔-
No, //if //only //doing //basic
-Yes, //if //claiming //children //under //18 //(Sakatchewan //and //Yukon)
-Yes, //always //(Quebec)
Employers //should //review //TD1 //and //TP-1015.3-
V //forms //to //ensure //(ch.2) //- //CORRECT //ANSWERS(S)✔✔-
Correct //employee //name, //Date //of //birth, //Address, //and //SIN
-Correct //amounts //on //the //form
-Amounts //claimed //are //totaled //correctly
-Form //does //not //contain //obvious //false //statements
-The //form //is //signed //a //dated
What /
/certain /
/information /
/must //appear //on //an //employee's //statement //of //wages? //(ch.2) //- //CORRECT //ANSWERS(S)✔✔-
Name
-Rate //of //pay //and //hours //worked //at //each //rate
-Date //of //pay //period
-Gross //and //net //pay
-Itemized //deductions
Renumeration /
/(ch.2) //- /
/CORRECT /
/ANSWERS(S)✔✔Employee //received //compensation //or //pay //for //the //services //they //perform //
-AKA //employee //income //when //employer-employee //relationship //exists
