Payroll Accounting Final Exam 2024/2025 with 100% correct answers
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Course
Payroll Accounting F
Institution
Payroll Accounting F
Which of the following cannot be found on a standard paystub? correct answersPrior year's gross wages
The Fair Labor Standards Act requires that, for non-exempt employees, the overtime hourly pay rate be at least what percentage of the regular hourly pay rate? correct answers150%
An employer ...
Which of the following cannot be found on a standard paystub? correct answersPrior year's gross wages
The Fair Labor Standards Act requires that, for non-exempt employees, the overtime hourly pay rate be
at least what percentage of the regular hourly pay rate? correct answers150%
An employer can designate any 7-day period as a ___________ as long as it begins and ends consistenely
each week. correct answersworkweek
Publication 15 is also referred to as ________. correct answersCircular E
What is Form SS-4 used to request? correct answersEmployer Identification Number (EIN)
What is Form SS-5 used to request? correct answersSocial Security Number (SSN)
Form __________ is used to verify an employee's indentity and right to work in the US. correct answersI-
9
On Form SS-4, Line 13, the employer enters the expected number of employees that will be working in
each of three categories over the subsequent 12 months. What are those categories? correct
answersAgricultural, Household, and Other
What is the insurance, usually paid for by the employer, the provides financial assistance to an employee
injured on the job? correct answersWorkers' Compensation
Samuel is considering hiring a payroll service for his catering business. What is NOT a task that a payroll
service could complete on behalf of his business? correct answersLitigating workers' compensation
disputes
, Most columns on the left side of the employee earnings record relate to employee earnings, while
columns on the right relate to ___________ correct answersdeductions
Gross Pay correct answersPay before deductions
Overtime Pay correct answersPay for hours worked over the standard number of regular hours (typically
40) in a workweek
Net Pay correct answersPaycheck amount
SS-4 correct answersUsed to obtain an Employer Identification Number (EIN)
W-4 correct answersProvides information to calculate income tax withholding
SS-5 correct answersUsed to obtain a Social Security Number (SSN)
An employer may change its workweek, as long as the change is meant to be permanent and in not
designed to circumvent overtime requirements. correct answersTrue
The Equal Pay Act protects only female employees from wage discrimination correct answersFalse
Commissions are considered to be a component of an employee's regular pay correct answersTrue
A discretionary bonus is one that is planned and paid out upon an employee reaching a specific
milestone. correct answersFalse
An employee who worked 38 hours during the current workweek and receives $11.25/hour has earned
gross pay of: correct answers$427.50
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