Test Bank for Payroll Accounting
Practice Cards 9th Edition by Jeanette
Landin
What law establishes minimum wage, overtime pay, recordkeeping and youth employment
standards affecting employees across federal, state and local governments? - ANSFair Labor
Standards Act
Which of the following states has no personal income tax?
· Texas
· Oklahoma
· Indiana
· Georgia - ANSTexas
Select all that apply: Which of the following are the main types of state income tax returns,
statements or reports?
· Annual statements
· Periodic withholding returns
· Reconciliation returns
· Income statements - ANS· Annual statements
· Periodic withholding returns
· Reconciliation returns
Select all that apply: What needs to be determined in order to be covered by FICA?
· If the compensation received is taxable wages, as defined by FICA tax law
· If the tax returns exceed the salary wage of the employee
· If an individual is an employee, as defined by the common-law relationship of employer and
employee
· If the service rendered is employment, as defined by FICA tax law - ANS· If the compensation
received is taxable wages, as defined by FICA tax law
· If an individual is an employee, as defined by the common-law relationship of employer and
employee
, · If the service rendered is employment, as defined by FICA tax law
What law funds the Social Security and Medicare programs?
· Fair Labor Standards Act (FLSA)
· Federal Unemployment Tax Act (FUTA)
· Federal Insurance Contributions Act (FICA)
· Federal Income Tax Act (FIT) - ANSFederal Insurance Contributions Act
(FICA)
What is the current federal minimum wage?
· $6.55
· $7.50
· $7.25
· $6.50 - ANS$7.25 an hour
What is a stated percentage of revenue paid to an employee who transacts a piece of business
that forms a service?
· Commission
· Tip
· Profit-Sharing Plan
· Piece Rate - ANSCommission
Before any federal income taxes may be withheld, there must be, or must have been, an
employer-employee relationship. True or False - ANSTrue
When making FUTA payment, the employer must make the deposit by what time?
· End of the month after the quarter
· 15th of every month
· 10th of the month after the quarter
· End of the following quarter - ANSEnd of the month after the quarter
What does the acronym FUTA stand for? - ANSFederal Unemployment Tax Act
Title VII of the Civil Rights Act is also referred to as which of the following? - ANSEqual
Employment Opportunity Act
What is the rate of overtime? - ANSOne and one-half times the regular rate of pay
Most employers use which system to make their FICA tax deposits? - ANSElectronic Federal
Tax Payment System (EFTPS)
Practice Cards 9th Edition by Jeanette
Landin
What law establishes minimum wage, overtime pay, recordkeeping and youth employment
standards affecting employees across federal, state and local governments? - ANSFair Labor
Standards Act
Which of the following states has no personal income tax?
· Texas
· Oklahoma
· Indiana
· Georgia - ANSTexas
Select all that apply: Which of the following are the main types of state income tax returns,
statements or reports?
· Annual statements
· Periodic withholding returns
· Reconciliation returns
· Income statements - ANS· Annual statements
· Periodic withholding returns
· Reconciliation returns
Select all that apply: What needs to be determined in order to be covered by FICA?
· If the compensation received is taxable wages, as defined by FICA tax law
· If the tax returns exceed the salary wage of the employee
· If an individual is an employee, as defined by the common-law relationship of employer and
employee
· If the service rendered is employment, as defined by FICA tax law - ANS· If the compensation
received is taxable wages, as defined by FICA tax law
· If an individual is an employee, as defined by the common-law relationship of employer and
employee
, · If the service rendered is employment, as defined by FICA tax law
What law funds the Social Security and Medicare programs?
· Fair Labor Standards Act (FLSA)
· Federal Unemployment Tax Act (FUTA)
· Federal Insurance Contributions Act (FICA)
· Federal Income Tax Act (FIT) - ANSFederal Insurance Contributions Act
(FICA)
What is the current federal minimum wage?
· $6.55
· $7.50
· $7.25
· $6.50 - ANS$7.25 an hour
What is a stated percentage of revenue paid to an employee who transacts a piece of business
that forms a service?
· Commission
· Tip
· Profit-Sharing Plan
· Piece Rate - ANSCommission
Before any federal income taxes may be withheld, there must be, or must have been, an
employer-employee relationship. True or False - ANSTrue
When making FUTA payment, the employer must make the deposit by what time?
· End of the month after the quarter
· 15th of every month
· 10th of the month after the quarter
· End of the following quarter - ANSEnd of the month after the quarter
What does the acronym FUTA stand for? - ANSFederal Unemployment Tax Act
Title VII of the Civil Rights Act is also referred to as which of the following? - ANSEqual
Employment Opportunity Act
What is the rate of overtime? - ANSOne and one-half times the regular rate of pay
Most employers use which system to make their FICA tax deposits? - ANSElectronic Federal
Tax Payment System (EFTPS)
