PAYROLL ACCOUNTING - CHAPTER 2 EXAM
QUESTIONS AND ANSWERS 100%
CORRECT!!!
, London Franco was dismissed from employment at Precision Dynamics because of a
race-related incident. London sued Precision Dynamics for $150,000 because of the
discrimination. Which of the following laws provides for monetary awards during
discrimination lawsuits? - ANSWER Civil Rights Act of 1991
Ines, Incorporated, is a qualified private-sector company that provides health insurance
to its employees. The company is self-insured. Which of the following forms should the
company provide its employees to comply with the Affordable Care Act? - ANSWER
1095-B
Definition for manual payroll. - ANSWER Payroll administration using a paper payroll
register.
Definition for time card. - ANSWER A record of the time worked during a period for an
individual employee.
Definition for paycard. - ANSWER A preloaded credit card is used to pay employees.
Definition for employee internet portal. - ANSWER A web-based application wherein
employees can modify certain payroll-related information.
Definition for certified payroll. - ANSWER A way for governmental agencies to track the
payroll associated with a government contract.
Definition for outsourced payroll. - ANSWER The use of an external company to track
time and benefits and pay employees.
Definition for auditor. - ANSWER A person or group who examines a company's
accounting records for accuracy.
Definition for ADP and Paychex®. - ANSWER Examples of companies used for
outsourcing payroll processing.
Definition for time collection. - ANSWER The process of gathering information about
hours worked for one or more employees.
QUESTIONS AND ANSWERS 100%
CORRECT!!!
, London Franco was dismissed from employment at Precision Dynamics because of a
race-related incident. London sued Precision Dynamics for $150,000 because of the
discrimination. Which of the following laws provides for monetary awards during
discrimination lawsuits? - ANSWER Civil Rights Act of 1991
Ines, Incorporated, is a qualified private-sector company that provides health insurance
to its employees. The company is self-insured. Which of the following forms should the
company provide its employees to comply with the Affordable Care Act? - ANSWER
1095-B
Definition for manual payroll. - ANSWER Payroll administration using a paper payroll
register.
Definition for time card. - ANSWER A record of the time worked during a period for an
individual employee.
Definition for paycard. - ANSWER A preloaded credit card is used to pay employees.
Definition for employee internet portal. - ANSWER A web-based application wherein
employees can modify certain payroll-related information.
Definition for certified payroll. - ANSWER A way for governmental agencies to track the
payroll associated with a government contract.
Definition for outsourced payroll. - ANSWER The use of an external company to track
time and benefits and pay employees.
Definition for auditor. - ANSWER A person or group who examines a company's
accounting records for accuracy.
Definition for ADP and Paychex®. - ANSWER Examples of companies used for
outsourcing payroll processing.
Definition for time collection. - ANSWER The process of gathering information about
hours worked for one or more employees.
