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THE PAYROLL SOURCE CPP FINAL EXAM (VERSION B) NEWEST 2024 ACTUAL EXAM COMPLETE 100 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+||BRAND NEW!!$28.49
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THE PAYROLL SOURCE CPP FINAL EXAM (VERSION B) NEWEST 2024 ACTUAL EXAM COMPLETE 100 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+||BRAND NEW!!
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Course
THE PAYROLL SOURCE CPP
Institution
THE PAYROLL SOURCE CPP
THE PAYROLL SOURCE CPP FINAL EXAM (VERSION B) NEWEST 2024 ACTUAL EXAM COMPLETE 100 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+||BRAND NEW!!
THE PAYROLL SOURCE CPP FINAL EXAM
(VERSION B) NEWEST 2024 ACTUAL EXAM
COMPLETE 100 QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED ANSWERS)
|ALREADY GRADED A+||BRAND NEW!!
What amount would be included in the employee's income when
the employer chooses to pay the taxes on a bonus of $800.00
and to use the supplemental optional flat rate for calculating the
federal income tax? The employee's year-to-date earnings are
$17,500.00 and the employee is not subject to any state income
tax.
a. $562.80
b. $1,000.00
c. $1,137.17
d. $1,187.82 - ANSWER- c
Documents relating to federal income, social security and
federal unemployment taxes must be retained for
a minimum of:
a. 2 years
,2|Page
b. 3 years
c. 4 years
d. 5 years - ANSWER- c
Which form must be completed in addition to Form 941, when
the employer is a semiweekly depositor?
a. Schedule B
b. Schedule D
c. Form 943
d. Form 945 - ANSWER- a
In what document are financial transactions first posted?
a. Chart of Accounts
b. General Ledger
c. Journal
d. Balance Sheet - ANSWER- c
What is the program that allows for the exchange of information
between two computer systems?
a. Integration
b. Interface
c. On-line
,3|Page
d. Time sharing - ANSWER- b
Which of the following procedures is the best internal control
procedure?
a. Cancelled checks are reviewed by payroll department, then
passed on to the internal audit department
b. The check signer is stored by the payroll department for
safekeeping
c. Payroll checks are signed and sealed by the cash management
department
d. The payroll department operates the check signer and mails
all payroll checks - ANSWER- c
The company pays employees who work on holidays at a
double-time rate. A salaried nonexempt employee
earning $48,000.00 per year who normally works a 40-hour
workweek works 7 hours on a holiday. What is
the additional pay due the employee?
a. $161.54
b. $242.31
c. $323.12
d. $369.28 - ANSWER- c
, 4|Page
Employers must provide Form W-2 to employees no later than:
a. December 31
b. January 31
c. February 28
d. March 31 - ANSWER- b
What does a totalization agreement allow an employee to do?
The Payroll Source Section 14.2-4
Certification Examination Content Outline Section IIF
a. Pay social security tax in only one country
b. Pay social security taxes in two countries
c. Pay income tax in two countries
d. Pay income tax in only one country - ANSWER- a
Under which of the following situations may all health insurance
premiums paid be excluded from the
employee's income?
a. When the employee pays the premium directly to the
insurance company
b. When the employee and employer share the premium
c. When the employer withholds the premium
d. When the employer pays the premium - ANSWER- d
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