CPP Certified Payroll Professional APA Master Exam
Practice COMPLETE QUESTIONS AND ANSWERS |
ALREADY PASSED | 2025 LATEST!!
Form SS-8 - (ANSWER)Determination of Worker Status for Purposes of Federal
Employment Taxes and Income Tax Withholding
Form W-9 - (ANSWER)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 - (ANSWER)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 - (ANSWER)Application for Employer Identification Number (EIN)
Accounting equation (Balance Sheet) - (ANSWER)Assets = Liabilities + Capital
Assets - Liabilities = (Shareholders' or Owners' Equity)
Asset (Debit or Credit Normal Balance?) - (ANSWER)Debit
Expense (Debit or Credit Normal Balance?) - (ANSWER)Debit
Liability (Debit or Credit Normal Balance?) - (ANSWER)Credit
Capital (Debit or Credit Normal Balance?) - (ANSWER)Credit
Owners Equity (Debit or Credit Normal Balance?) - (ANSWER)Credit
Revenue (Debit or Credit Normal Balance?) - (ANSWER)Credit
Escheat laws - (ANSWER)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.
,Schedule D (Form 941) - (ANSWER)to explain certain discrepancies (caused by
acquisitions, statutory mergers, and consolidations) between Forms W-2, Wage
and Tax Statement (Copy A), and Forms 941, Employer's QUARTERLY Federal Tax
Return, for the totals of social security wages, Medicare wages and tips, social
security tips, federal income tax withheld, and advance earned income credit (EIC)
payments
Workweek for 14 and 15-year-olds - (ANSWER)Outside school hours, and on
school days including Fridays, no more than 3 hours.
No more than 8 hours on a non-school day.
When school is in session, no more than 18 hours per week.
No more than 40 hours during a week when school is out.
Between the hours of 7 a.m. And 7 p.m, extended to 9 p.m. Between June 1 and
Labor Day.
1) Which form is used for Determination of Employee Work Status for Purposes of
Federal Employment Taxes and Income Tax Withholding?
A. Form I-9
B. Form SS-4
C. Form SS-5
D. Form SS-8 - (ANSWER)D
2) What amount must an independent contractor be paid for services rendered
before an employer is obligated to give them a 1099-MISC?
A. Once total reaches $600 or more
, B. Total payments reach $600 or more for company's fiscal year
C. Total payments reach $600 or more for calendar year
D. Any individual payment makes during calendar year exceeding $600 -
(ANSWER)C
3) Qualified real estate agents and direct sellers are which of the following?
A. Statutory Employees
B. Statutory Nonemployees
C. Employees
D. Independent Contractors - (ANSWER)B
4) Under the common law test, the IRS examiners are to group the evidence they
gather into three general types or "categories" Which of the following is not one
of them?
A. Behavioral control
B. Financial control
C. Location of work
D. Relationship of the parties - (ANSWER)C
5) Which of the following is not regulated by the FLSA?
A. Child labor
B. Overtime pay
C. Minimum Wage Rates
Practice COMPLETE QUESTIONS AND ANSWERS |
ALREADY PASSED | 2025 LATEST!!
Form SS-8 - (ANSWER)Determination of Worker Status for Purposes of Federal
Employment Taxes and Income Tax Withholding
Form W-9 - (ANSWER)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 - (ANSWER)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 - (ANSWER)Application for Employer Identification Number (EIN)
Accounting equation (Balance Sheet) - (ANSWER)Assets = Liabilities + Capital
Assets - Liabilities = (Shareholders' or Owners' Equity)
Asset (Debit or Credit Normal Balance?) - (ANSWER)Debit
Expense (Debit or Credit Normal Balance?) - (ANSWER)Debit
Liability (Debit or Credit Normal Balance?) - (ANSWER)Credit
Capital (Debit or Credit Normal Balance?) - (ANSWER)Credit
Owners Equity (Debit or Credit Normal Balance?) - (ANSWER)Credit
Revenue (Debit or Credit Normal Balance?) - (ANSWER)Credit
Escheat laws - (ANSWER)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.
,Schedule D (Form 941) - (ANSWER)to explain certain discrepancies (caused by
acquisitions, statutory mergers, and consolidations) between Forms W-2, Wage
and Tax Statement (Copy A), and Forms 941, Employer's QUARTERLY Federal Tax
Return, for the totals of social security wages, Medicare wages and tips, social
security tips, federal income tax withheld, and advance earned income credit (EIC)
payments
Workweek for 14 and 15-year-olds - (ANSWER)Outside school hours, and on
school days including Fridays, no more than 3 hours.
No more than 8 hours on a non-school day.
When school is in session, no more than 18 hours per week.
No more than 40 hours during a week when school is out.
Between the hours of 7 a.m. And 7 p.m, extended to 9 p.m. Between June 1 and
Labor Day.
1) Which form is used for Determination of Employee Work Status for Purposes of
Federal Employment Taxes and Income Tax Withholding?
A. Form I-9
B. Form SS-4
C. Form SS-5
D. Form SS-8 - (ANSWER)D
2) What amount must an independent contractor be paid for services rendered
before an employer is obligated to give them a 1099-MISC?
A. Once total reaches $600 or more
, B. Total payments reach $600 or more for company's fiscal year
C. Total payments reach $600 or more for calendar year
D. Any individual payment makes during calendar year exceeding $600 -
(ANSWER)C
3) Qualified real estate agents and direct sellers are which of the following?
A. Statutory Employees
B. Statutory Nonemployees
C. Employees
D. Independent Contractors - (ANSWER)B
4) Under the common law test, the IRS examiners are to group the evidence they
gather into three general types or "categories" Which of the following is not one
of them?
A. Behavioral control
B. Financial control
C. Location of work
D. Relationship of the parties - (ANSWER)C
5) Which of the following is not regulated by the FLSA?
A. Child labor
B. Overtime pay
C. Minimum Wage Rates
