PAYROLL ACCOUNTING REVIEW EXAM
QUESTIONS AND ANSWERS 100%
CORRECT!!
, The purpose of Payroll legislation is - ANSWER protecting the rights of employees by
legislating workplace equity
FLSA - nonexempt workers receive overtime for - ANSWER Hours worked in excess of
40 per week
FMLA- when a employee is on family leave - ANSWER employer is responsible for
alerting the employee to changes in benefits
Most significant concern of website portals - ANSWER the security of personnel data
Salaried Nonexempt employees - ANSWER are eligible for overtime
Extends benefits for terminated employees - ANSWER COBRA
Employers request this number from the Internal Revenue Service to track payroll tax
obligations - ANSWER Employer identification number
The AICPA code of ethics - ANSWER protect assets of the company and remit money
owed to the government
FLSA contains provisions for - ANSWER overtime pay, minimum wage and working
conditions
Payroll-related issues for large companies - ANSWER geographic dispersion, multiple
departments, increased task variation
One guideline for AICPA code of ethics - ANSWER Due care
Current Tax Payment Act - ANSWER taxes remitted at specific times during the year
Outsourced payroll still requires employers to - ANSWER have accurate payrolls
Exempt and non exempt pertains to - ANSWER Fair labor Standards Act
FICA's main purpose - ANSWER provide benefits for workers unable to work because
of age, disability, or death
QUESTIONS AND ANSWERS 100%
CORRECT!!
, The purpose of Payroll legislation is - ANSWER protecting the rights of employees by
legislating workplace equity
FLSA - nonexempt workers receive overtime for - ANSWER Hours worked in excess of
40 per week
FMLA- when a employee is on family leave - ANSWER employer is responsible for
alerting the employee to changes in benefits
Most significant concern of website portals - ANSWER the security of personnel data
Salaried Nonexempt employees - ANSWER are eligible for overtime
Extends benefits for terminated employees - ANSWER COBRA
Employers request this number from the Internal Revenue Service to track payroll tax
obligations - ANSWER Employer identification number
The AICPA code of ethics - ANSWER protect assets of the company and remit money
owed to the government
FLSA contains provisions for - ANSWER overtime pay, minimum wage and working
conditions
Payroll-related issues for large companies - ANSWER geographic dispersion, multiple
departments, increased task variation
One guideline for AICPA code of ethics - ANSWER Due care
Current Tax Payment Act - ANSWER taxes remitted at specific times during the year
Outsourced payroll still requires employers to - ANSWER have accurate payrolls
Exempt and non exempt pertains to - ANSWER Fair labor Standards Act
FICA's main purpose - ANSWER provide benefits for workers unable to work because
of age, disability, or death
