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Chp 11 ACCT 1301 Questions with Correct
Answers | Updated (100% Correct Answers)
True or false: Employers make tax deposits for employer and
employee Medicare taxes, employer and employee social security
taxes, and the federal income tax withheld from employee earnings
Answer: True
Employer payroll tax deposits can be made:
Multiple select question.
by electronic deposit
by check deposited in an authorized financial institution
by automatic withdrawal Answer: by electronic deposit
by check deposited in an authorized financial institution
lookback period < $50,000 Answer: employer must make monthly
payments
accumulated tax deposit < threshold
matches Answer: Choice, employer may pay the amount due with
the payroll tax return
employer may pay the amount due with the payroll tax return
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, 2
lookback period > $50,000
matches Answer: employer must make semiweekly deposits
accumulated tax liability > $100,000
matches Answer: deposit is due next banking day
The lookback period is a _________ of the preceding year Answer:
four-quarter period ending on June 30
Employers are responsible for matching payments of _______ and
_______ tax expenses. Answer: Medicare
social security
Employers make payroll tax deposits to a Federal Reserve Bank (or
authorized financial institution) for Answer: employer Medicare
taxes
employee social security taxes
employee federal income tax withholdings
True or false: Most companies are required to file and pay federal
tax deposits electronically; however, some companies may use a tax
deposit form and pay by check. Answer: True
A company's payroll register showed total employee earnings of
$3,000 for the payroll period ended January 31. The employer's
© 2025 All rights reserved
Chp 11 ACCT 1301 Questions with Correct
Answers | Updated (100% Correct Answers)
True or false: Employers make tax deposits for employer and
employee Medicare taxes, employer and employee social security
taxes, and the federal income tax withheld from employee earnings
Answer: True
Employer payroll tax deposits can be made:
Multiple select question.
by electronic deposit
by check deposited in an authorized financial institution
by automatic withdrawal Answer: by electronic deposit
by check deposited in an authorized financial institution
lookback period < $50,000 Answer: employer must make monthly
payments
accumulated tax deposit < threshold
matches Answer: Choice, employer may pay the amount due with
the payroll tax return
employer may pay the amount due with the payroll tax return
© 2025 All rights reserved
, 2
lookback period > $50,000
matches Answer: employer must make semiweekly deposits
accumulated tax liability > $100,000
matches Answer: deposit is due next banking day
The lookback period is a _________ of the preceding year Answer:
four-quarter period ending on June 30
Employers are responsible for matching payments of _______ and
_______ tax expenses. Answer: Medicare
social security
Employers make payroll tax deposits to a Federal Reserve Bank (or
authorized financial institution) for Answer: employer Medicare
taxes
employee social security taxes
employee federal income tax withholdings
True or false: Most companies are required to file and pay federal
tax deposits electronically; however, some companies may use a tax
deposit form and pay by check. Answer: True
A company's payroll register showed total employee earnings of
$3,000 for the payroll period ended January 31. The employer's
© 2025 All rights reserved
