Deck 11: Employees and Payroll

Question 1

Companies that owe a lot of payroll tax typically pay and file more frequently.

Answer 1

True

Question 2

Employee withholdings that are collected within paychecks are filed by the employer.

Answer 2

True

Question 3

QBO_Student Name is located in this City and State:

A)Los Angeles, California.
B)Milwaukee, Wisconsin.
C)Springfield, Illinois.
D)Tucson, Arizona.
E)None of these.

Answer 3

D

Question 4

The most common default for paychecks is no deductions.

Question 5

In Chapter 11, the name of the employee added is:

A)Brice McClure.
B)Matt Lowe.
C)Student first and last name.
D)None of these.
E)All of these.

Question 6

In Chapter 11, paychecks are issued on Monday.

Question 7

In Chapter 11, the employee is paid:

A)Weekly.
B)Semi-monthly.
C)Monthly.
D)Annually.
E)None of these.

Question 8

The Premium and Core payroll apps are for 30 days.

Question 9

QBO includes __________ for paying taxes to federal and state agencies.

A)Internet links for filing payroll liabilities.
B)Monthly paychecks.
C)E-File.
D)None of these.
E)All of these.

Question 10

It's optional whether to submit federal tax deposit payments electronically.

Question 11

Employee Information includes:

A)Paycheck deductions.
B)Company bank account.
C)Quarterly state and federal tax filings.
D)Reports.
E)All of these.

Question 12

In Chapter 11, the employee is paid with a/an:

A)Electronic transfer to the bank.
B)Paper check.
C)In cash.
D)None of these.
E)All of these.

Question 13

QBO automatically sets up default accounts for payroll liabilities and expenses.

Question 14

In Chapter 11, Paycheck #1118 shows gross pay of $509.71.

Question 15

Employees complete Form W-4.

Question 16

This form __________ shows a summary of the employer's W-2 forms.

A)W-2, Wage and Tax Statement.
B)Form I-9, Employment Eligibility Verification.
C)W-4, Employee's Withholding Certificate.
D)W-3, Transmittal of Wage and Tax Statements.
E)None.

Question 17

Who is your payroll contact?

A)Student's first and last name.
B)Your professor.
C)Mr.and Mrs.John Smith.
D)Cindy Barber.
E)None of these.

Question 18

Payroll liability accounts are classified as expenses.

Question 19

This information is available from your state or local tax agency.

A)State Unemployment Insurance Contribution Rate.
B)State Agency ID number.
C)Schedule for Tax Deposits.
D)Tax Payment information.
E)All of these.

Question 20

Form 940, Employee's Annual Federal Unemployment shows:

A)Payroll withholdings on each paycheck issued by the employer.
B)Unemployment taxes paid and due by the employer.
C)Assessment and surcharges.
D)Employer and employee federal income tax, Social Security and Medicare.
E)None of these.