Quiz 1 Betty's Flashcards
A company pays its employees weekly and is a semi-weekly depositor. On their Friday payday they have accumulated $58,000 of payroll
tax liability. The Monday after payday is a bank holiday. When is their payroll deposit due?
a. On or before the following Thursday
Disposable pay = net pay
False
Accrued wages paid in the year of death are:
c. Reported in boxes 3 and 5 of Form W-2 and in box 3 of Form 1099-MISC
A request for proposal (RFP) includes:
a. Technical and functional system requirements
What is the worker status of a full-time insurance agent who works primarily for one company?
a. Statutory employee
When applying the common law test to determine worker status, whether or not the worker reserves the right to work for other employers is
b. Relationship between the parties
The leadership style of a manager who centralizes authority and uses coercion to force employees to meet deadlines is:
c. Theory X
Which is not a step to Management by Objectives (MBO)?
b. Analyze jobs to make them more efficient
A company generally must maintain a skeleton payroll staff when using which type of payroll system?
Outsourced
When an employer pays military differential to an employee serving active duty for 30 or more days, the amount paid is:
d. Taxable for FIT only
A scanning method that analyzes the shape of characters on a page and converts it into ASCII text is called:
b. Scanning Character Recognition
An effective way to motivate an employee who tends to be competitive is to:
a. Give the employee an award certificate
Which of the following is correct under FLSA with regards to child labor laws?
a. Minors under 14 years old may be employed by a parent
Payroll deductions under a cafeteria plan reduce wages for:
a. FIT, social security, Medicare and FUTA
The 2024 lookback period for a 941 filer is:
July 1, 2022-Jun 30, 2023
A monthly schedule depositor accumulates $80,000 of payroll tax liability on the 20th of the month, and another $25,000 on the last day of
d. The company must deposit $105,000 by the next business day after the last day of the month and becomes a semi-weekly depositor through the next calendar year
A company transmits a direct deposit in error and discovers the
mistake before the bank sends the file to the ACH Operator.
a. Their bank to delete the direct deposit
What change did the IRS implement in 2009 with regards to calculating withholding for nonresident aliens?
a. To add an additional amount to the employee’s wages for purposes of calculating withholding only
An employee reports $25 in tips for the month. The employer must withhold and pay which of the followiing taxes on the
employee’s tips?
a. Withhhold FIT, social security, Medicare and pay FUTA
The FLSA allows for compensatory time off of 1.5 hours per hour of overtime worked in lieu of pay for:
b. Public sector employees only
Which of the following is NOT an example of spplemental pay?
a. Pay for vacation taken during the urrent payperiod; NOTE: vacation pay is supplemental when paid separately, like vacation pay out of balances.
The 2024 wage base limit for social security is:
a. $168,600
a. Once defined the employer may change the workweek
true
An employer who receives all or most of the property used in a trade or business of another employer is referred to as the:
a. Successor Employer
How much is the FUTA credit reduction?
c. 5.4%
A foreign individual has been present in the U.S. for the last 60 days and has been present in the U.S. 190 days during the last three years. Which of the following is true:
a. The individual is a resident alien based on the Substantial Presence Test
During a system implementation, programming interfaces is part of which phase?
a. Configuration
A semi-weekly depositor depositst 95% of the company’s payroll tax liability when due on Weds 4/17/24. The company discovers the error and deposits the remaining 5% of the liability on 4/24/24. They owe a deposit penalty of:
d. 5% of the tax liability.
Who is known as the Father of Administrative Management?
d. Henri Fayol
