CPP CERTIFIED PAYROLL PROFESSIONAL APA
MASTER EXAM PRACTICE EXAM WITH
CORRECT ACTUAL QUESTIONS AND
CORRECTLY WELL DEFINED ANSWERS LATEST
ALREADY GRADED A+
Terms in this set (406)
Form SS-8 Determination of Worker Status for Purposes of
Federal Employment Taxes and Income Tax
Withholding
,Form W-9 First, it is used by third parties to collect
identifying information to help file information
returns with the IRS.
The form is never actually sent to the IRS, but is
maintained by the person who files the
information return for verification purposes.
The information on the Form W-9 and the
payment made are reported on a Form 1099.
The second purpose is to help the payee avoid
backup withholding. The payer must collect
withholding taxes on certain reportable
payments for the IRS. However, if the payee
certifies on the W-9 they are not subject to
backup withholding they generally receive the
full payment due them from the payer. This is
similar to the withholding exemptions
certifications found on Form W-4 for employees.
Form SS-5 Apply for an original Social Security card
Apply for a replacement Social Security card
Change or correct information on your Social
Security number record
Form SS-4 Application for Employer Identification Number
(EIN)
, Accounting equation (Balance Assets = Liabilities + Capital
Sheet) Assets - Liabilities = (Shareholders' or Owners'
Equity)
Asset (Debit or Credit Normal Debit
Balance?)
Expense (Debit or Credit Normal Debit
Balance?)
Liability (Debit or Credit Normal Credit
Balance?)
Capital (Debit or Credit Normal Credit
Balance?)
Owners Equity (Debit or Credit Credit
Normal Balance?)
Revenue (Debit or Credit Normal Credit
Balance?)
Escheat laws Refer to unclaimed property obligations.
Companies who issue checks-for wages, payroll,
employee commissions, returnable garnishments,
deferred compensation, payroll services or
bonuseshave a potential (and probable)
unclaimed property obligation.
MASTER EXAM PRACTICE EXAM WITH
CORRECT ACTUAL QUESTIONS AND
CORRECTLY WELL DEFINED ANSWERS LATEST
ALREADY GRADED A+
Terms in this set (406)
Form SS-8 Determination of Worker Status for Purposes of
Federal Employment Taxes and Income Tax
Withholding
,Form W-9 First, it is used by third parties to collect
identifying information to help file information
returns with the IRS.
The form is never actually sent to the IRS, but is
maintained by the person who files the
information return for verification purposes.
The information on the Form W-9 and the
payment made are reported on a Form 1099.
The second purpose is to help the payee avoid
backup withholding. The payer must collect
withholding taxes on certain reportable
payments for the IRS. However, if the payee
certifies on the W-9 they are not subject to
backup withholding they generally receive the
full payment due them from the payer. This is
similar to the withholding exemptions
certifications found on Form W-4 for employees.
Form SS-5 Apply for an original Social Security card
Apply for a replacement Social Security card
Change or correct information on your Social
Security number record
Form SS-4 Application for Employer Identification Number
(EIN)
, Accounting equation (Balance Assets = Liabilities + Capital
Sheet) Assets - Liabilities = (Shareholders' or Owners'
Equity)
Asset (Debit or Credit Normal Debit
Balance?)
Expense (Debit or Credit Normal Debit
Balance?)
Liability (Debit or Credit Normal Credit
Balance?)
Capital (Debit or Credit Normal Credit
Balance?)
Owners Equity (Debit or Credit Credit
Normal Balance?)
Revenue (Debit or Credit Normal Credit
Balance?)
Escheat laws Refer to unclaimed property obligations.
Companies who issue checks-for wages, payroll,
employee commissions, returnable garnishments,
deferred compensation, payroll services or
bonuseshave a potential (and probable)
unclaimed property obligation.
