Payroll Accounting EXAM QUESTION AND 100% ACCURATE
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ANSWERS graded A+ || ||
Select All that Apply: Which of the following are payroll-related issues that large companies may
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experience? - ✔✔Geographic dispersion Multiple departments Increased task variation.
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The employer is responsible for alerting the employee to changes in processes and benefits. -
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✔✔According to FMLA, during the time that an employee is on family leave: || || || || || || || || || || || ||
discrimination in employment practices for workers who are age 35 and older - ✔✔The Age
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Discrimination in Employment Act prohibits || || || ||
Which Act extended medical benefits for certain terminated employees? - ✔✔COBRA
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Legislation highlights the need for firms to create well-designed payroll systems - ✔✔What is the
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effect of payroll-related legislation on payroll practice?
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business-planning tools. - ✔✔Payroll accounting systems may involve an integrated software || || || || || || || || || || ||
package that contains || ||
Requiring employers to remit taxes at specific times during the year. - ✔✔The Current Tax
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Payment Act changed employer remittance of taxes by:
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Which Act governs the minimum wage that must be paid to nonexempt workers? - ✔✔FLSA
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The largest challenge to companies that use manual payroll processing is: - ✔✔Integrating
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current tax tables. || ||
, Employers must request a(n) ______________ for the Internal Revenue Service to track a firm's
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payroll tax obligations - ✔✔Employer Identification Number.
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The classification of workers as exempt and nonexempt pertains to the provisions of the: -
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✔✔Fair Labor Standards Act. || || ||
Overtime pay, minimum wage and working conditions. - ✔✔The Fair Labor Standards Act
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contains provisions for: || ||
The ___________mandated that employers verify an employee's legal ability to work in the
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United States. - ✔✔Immigration Reform and Control Act of 1986
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Susan discusses specific information about the company's federal contracts with friends during
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lunch - ✔✔Which of the following represents a payroll system privacy breach by Susan, a payroll
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accountant?
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According to the Fair Labor Standards Act, nonexempt workers receive overtime for: - ✔✔Hours
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worked in excess of 40 per week. || || || || || ||
What is the difference in pay practices between salaried exempt and salaried nonexempt workers?
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- ✔✔Salaried nonexempt workers are eligible for overtime pay.
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Which most closely identifies why it is important for payroll accountants to adhere to the AICPA
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Code of Ethics? - ✔✔To protect the assets of the company and remit money owed to the
|| || || || || || || || || || || || || || || || ||
government.
Why do different methods of time collection devices (e.g., time cards, biometric devices) exist
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among companies? - ✔✔They promote compensation accuracy that matches company needs.
|| || || || || || || || || ||
Payroll taxes were instituted by the 16th Amendment to the United States Constitution: - ✔✔To
|| || || || || || || || || || || || || || ||
fund infrastructure improvements of booming cities.
|| || || || ||
|| || || || || || ||
ANSWERS graded A+ || ||
Select All that Apply: Which of the following are payroll-related issues that large companies may
|| || || || || || || || || || || || || || ||
experience? - ✔✔Geographic dispersion Multiple departments Increased task variation.
|| || || || || || || ||
The employer is responsible for alerting the employee to changes in processes and benefits. -
|| || || || || || || || || || || || || || ||
✔✔According to FMLA, during the time that an employee is on family leave: || || || || || || || || || || || ||
discrimination in employment practices for workers who are age 35 and older - ✔✔The Age
|| || || || || || || || || || || || || || ||
Discrimination in Employment Act prohibits || || || ||
Which Act extended medical benefits for certain terminated employees? - ✔✔COBRA
|| || || || || || || || || ||
Legislation highlights the need for firms to create well-designed payroll systems - ✔✔What is the
|| || || || || || || || || || || || || ||
effect of payroll-related legislation on payroll practice?
|| || || || || || ||
business-planning tools. - ✔✔Payroll accounting systems may involve an integrated software || || || || || || || || || || ||
package that contains || ||
Requiring employers to remit taxes at specific times during the year. - ✔✔The Current Tax
|| || || || || || || || || || || || || || ||
Payment Act changed employer remittance of taxes by:
|| || || || || || ||
Which Act governs the minimum wage that must be paid to nonexempt workers? - ✔✔FLSA
|| || || || || || || || || || || || || ||
The largest challenge to companies that use manual payroll processing is: - ✔✔Integrating
|| || || || || || || || || || || || ||
current tax tables. || ||
, Employers must request a(n) ______________ for the Internal Revenue Service to track a firm's
|| || || || || || || || || || || || || ||
payroll tax obligations - ✔✔Employer Identification Number.
|| || || || || ||
The classification of workers as exempt and nonexempt pertains to the provisions of the: -
|| || || || || || || || || || || || || || ||
✔✔Fair Labor Standards Act. || || ||
Overtime pay, minimum wage and working conditions. - ✔✔The Fair Labor Standards Act
|| || || || || || || || || || || || ||
contains provisions for: || ||
The ___________mandated that employers verify an employee's legal ability to work in the
|| || || || || || || || || || || || ||
United States. - ✔✔Immigration Reform and Control Act of 1986
|| || || || || || || || ||
Susan discusses specific information about the company's federal contracts with friends during
|| || || || || || || || || || || ||
lunch - ✔✔Which of the following represents a payroll system privacy breach by Susan, a payroll
|| || || || || || || || || || || || || || ||
accountant?
||
According to the Fair Labor Standards Act, nonexempt workers receive overtime for: - ✔✔Hours
|| || || || || || || || || || || || || ||
worked in excess of 40 per week. || || || || || ||
What is the difference in pay practices between salaried exempt and salaried nonexempt workers?
|| || || || || || || || || || || || || ||
- ✔✔Salaried nonexempt workers are eligible for overtime pay.
|| || || || || || || ||
Which most closely identifies why it is important for payroll accountants to adhere to the AICPA
|| || || || || || || || || || || || || || || ||
Code of Ethics? - ✔✔To protect the assets of the company and remit money owed to the
|| || || || || || || || || || || || || || || || ||
government.
Why do different methods of time collection devices (e.g., time cards, biometric devices) exist
|| || || || || || || || || || || || || ||
among companies? - ✔✔They promote compensation accuracy that matches company needs.
|| || || || || || || || || ||
Payroll taxes were instituted by the 16th Amendment to the United States Constitution: - ✔✔To
|| || || || || || || || || || || || || || ||
fund infrastructure improvements of booming cities.
|| || || || ||
