Chapter 1 3. The employer is required by the FLSA to display a poster that informs employees of the provisions of the law. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy QUESTION TYPE: True / False HAS VARIABLES: False LEARNING OBJECTIVES: PAYR.BIEG.14.3 - LO: 1 ACCREDITING STANDARDS: AICPA: v1-11 - FN-Reporting Blooms Taxonomy-5 - Remembering Business Program-3 - Analytic DATE CREATED: 6/6/2017 10:33 AM DATE MODIFIED: 6/6/2017 10:33 AM 4. All states have set their minimum wage to be the same as the federal government. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy QUESTION TYPE: True / False HAS VARIABLES: False LEARNING OBJECTIVES: PAYR.BIEG.14.4 - LO: 1 ACCREDITING STANDARDS: AICPA: v1-11 - FN-Reporting Blooms Taxonomy-5 - Remembering Business Program-3 - Analytic DATE CREATED: 6/6/2017 10:33 AM DATE MODIFIED: 6/6/2017 10:33 AM Copyright Cengage Learning. Powered by Cognero. Page 2 Chapter 1 5. Under the Federal Insurance Contributions Act, the Medicare portion of the tax is only paid by the employer. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy QUESTION TYPE: True / False HAS VARIABLES: False LEARNING OBJECTIVES: PAYR.BIEG.14.5 - LO: 1 ACCREDITING STANDARDS: AICPA: v1-11 - FN-Reporting Blooms Taxonomy-5 - Remembering Business Program-3 - Analytic DATE CREATED: 6/6/2017 10:33 AM DATE MODIFIED: 6/6/2017 10:33 AM 6. The FLSA provides health insurance for the aged and disabled (Medicare). a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy QUESTION TYPE: True / False HAS VARIABLES: False LEARNING OBJECTIVES: PAYR.BIEG.14.6 - LO: 1 ACCREDITING STANDARDS: AICPA: v1-11 - FN-Reporting Blooms Taxonomy-5 - Remembering Business Program-3 - Analytic DATE CREATED: 6/6/2017 10:33 AM DATE MODIFIED: 6/6/2017 10:33 AM Copyright Cengage Learning. Powered by Cognero. Page 3 Chapter 1 7. The tax paid to the federal government for unemployment taxes is used for paying state and federal administrative expenses of the unemployment program. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy QUESTION TYPE: True / False HAS VARIABLES: False LEARNING OBJECTIVES: PAYR.BIEG.14.7 - LO: 1 ACCREDITING STANDARDS: AICPA: v1-11 - FN-Reporting Blooms Taxonomy-5 - Remembering Business Program-3 - Analytic DATE CREATED: 6/6/2017 10:33 AM DATE MODIFIED: 6/6/2017 10:33 AM 8. The Self-Employment Contributions Act imposes a tax on the net earnings from self-employment derived by an individual from any trade or business. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy QUESTION TYPE: True / False HAS VARIABLES: False LEARNING OBJECTIVES: PAYR.BIEG.14.8 - LO: 2 ACCREDITING STANDARDS: AICPA: v1-11 - FN-Reporting Blooms Taxonomy-5 - Remembering Business Program-3 - Analytic DATE CREATED: 6/6/2017 10:33 AM DATE MODIFIED: 6/6/2017 10:33 AM
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