All the following types of records can be integrated with payroll data EXCEPT: correct answersPurchasing
What is a disadvantage of EFT when compared to issuing paper checks? correct answersDifficult to stop payment
A company understated its payroll tax liability by $15,000.00. The IRS determi...
All the following types of records can be integrated with payroll data EXCEPT: correct answersPurchasing
What is a disadvantage of EFT when compared to issuing paper checks? correct answersDifficult to stop
payment
A company understated its payroll tax liability by $15,000.00. The IRS determined this understatement
was due to negligence, not fraud. The maximum penalty, if any, the IRS could assess is: correct
answers20% of the underpayment
When batching data, all of the following actions occur EXCEPT correct answersimmediate update of data
entered
Which of the following statements is true regarding master file data correct answersBoth federal and
state regulations require employers to keep employees' basic employment and earnings records
Payroll documentation helps employers to correct answersrotate job assignments
Under the FLSA, which of the following documents must be retained for a maximum of two years correct
answersWage rate tables
Which of the following payroll issues are governed only by the states correct answersMinimum interval
between paydays, Escheat laws
A company deposited $100,000.00 in payroll taxes four days after the due date. The company is subject
to correct answerspenalties for late deposit
Batch processing is correct answersnot interactive
, The main responsibility for determining the success of the payroll department belongs to the correct
answerspayroll manager
Under the FLSA, which of the following documents must be retained for a maximum of two years correct
answersEmployees' work time schedules
1. A company files 40 Forms W-2 from 2023 with SSA on July 30, 2024. What is the maximum penalty the
company could be assessed? correct answers4800
The easiest and MOST convenient method of pay for employers is correct answersdirect deposit
All of the following information is required to set up direct deposit for a new employee EXCEPT the
correct answersname of the employee's bank
Due to poor accounting procedures and negligence, a company underdeposited its payroll tax liability
from its June 15, 2023 payroll by $11,000.00. The error was corrected within five days of the due date.
The company is subject to correct answerspenalties for late deposit
If the human resources and payroll systems are not integrated, what data must be retained in both
systems correct answersHire date, Rate of pay
All of the following characteristics are objectives of the payroll department EXCEPT correct
answersemployees should only be concerned about themselves
Under the FLSA, which of the following documents is NOT required to be retained for at least three years
correct answersSubstantiation of additions to wages
A company filed its 2022 paper Forms W-2 with the SSA on April 15, 2023. This action will result in
penalties of correct answers110.00 per Form W-2
Which of the following payroll issues is governed only by state agencies correct answersMethod of
payment, Final pay to a terminated employee
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