Payroll EXAMS BUNDLE-Questions with Correct Answers/ Latest Update/ Complete And Accurate / 100% Pass

True - The current minimum wage set by the Fair Labor Standards Act is $7.25 per hour False - The FLSA imposes no record keeping requirements on employers True - The employer is required by the FLSA to display a poster that informs employees of the provisions of the law False - All states have s...

False - Under the FLSA enterprise coverage test, hospitals and nursing homes are only covered if their annual charges for services are at least $500,000. True - Institutions of higher education are extended coverage under FLSA without regard to their annual sales volume. False - If a business do...

Objective of the Payroll Function - Pay employees accurately and on time, in compliance with legislative requirements for a full annual payroll cycle Payroll definition - is the process of paying employees in exchange for the services they perform. 4 Possible Meanings of Payroll - 1. The departm...

The Canada Labour Code is legislation that deals with - consolidates statutes regarding industrial relations, occupational health and safety and employment standards An employee is working increased hours per day, but fewer days per week. This is referred to as: - a compressed work week The Onta...

Federal Canada Labour Code - Every employer and employee in Canada is covered under either the federal Canada Labour Code, Part III (CLC) labour standards legislation or provincial/territorial employment/labour standards legislation. Approximately 6% of the Canadian workforce is covered by the CL...

Under enterprise coverage, all employees of a business are covered by the FLSA if the organization is: - a public agency. a hospital. a nursing home. Under individual employee coverage, the worker is covered by the FLSA if: - The domestic receives cash wages of at least $1,900 from the employer...

The federal unemployment tax is imposed on employers, and thus, is not deducted from employees 'wages - True 1. The taxable wage base for FUTA is __$7000.00______ for 2017 - True 2. The maximum credit permitted against FUTA tax is 4.5 percent (75% of 6%). - False 5.4 % (90% of 6%) Educational ...

Progressive Tax - Tax, such as Federal income tax, that takes a larger share of income as amount of income grows Sales Tax - An example of a regressive tax, a regressive tax takes a larger percentage of income from those who make less money The form W-4 is completed by - EMPLOYEE (you) Employer...

153 - As of December 6, Joe's year to date wages are $112400. On December 7, 2013, he is due $2000. How much FICA tax should the employer withhold from this payment? 3 - 2. How many days after a full time employee starts to work does an employer have to complete the I-9? SS-5 - Which form does ...

gross pay - total pay before deductions take-home pay - gross pay minus deductions Ernie Wagearner makes $729 per week. He knows his employer contributes 5.5% to a retirement annuity. How much does his employer contribute annually? - $2,084.94 Whatever the employer must contribute to the state u...

Only six states do not impose a state unemployment tax on employers in their state. - False Under the Family and Medical Leave Act, employers can exempt an employee who has not worked for the employer for at least one year and has worked for the company for at least 1,250 hours in the last year....

1. Unemployment taxes (FUTA and SUTA) do not have to be paid by an employer who has only part-time employees. a. True b. False - ANSWER: False 2. The Social Security Act ordered every state to set up an unemployment compensation program. a. True b. False - ANSWER: True 3. Partnerships do not...

1. An employee's marital status and number of withholding allowances never appear on the payroll register. a. True b. False - ANSWER: False 2. Companies usually provide a separate column in the payroll register to record the employer's payroll taxes. a. True b. False - ANSWER: False 3. An ...

gross taxable income - monies from which statutory deductions must be withheld; in CRA documents, also called: "gross remuneration" net taxable income - moneys from which statutory deductions must be withheld; in CRA documents, also called: "remuneration subject to tax deductions as source" o...