Deck 8: Employees and Payroll

Question 1

To turn on QuickBooks time tracking feature,the following steps must be completed:

A)Select QuickBooks Menu > Time Tracking
B)Select Edit > Preferences > Time and Expenses > Time Tracking
C)Select Employees > Payroll > Time Tracking
D)Select Employees > Payroll and Employees > Time Tracking

Answer 1

B

Question 2

Which of the following may be billed to a specific customer job?

A)Mileage
B)Hours
C)Expenses
D)All the choices are correct

Answer 2

D

Question 3

Which one of the following is paid by both the employee and company?

A)Federal income taxes
B)State income taxes
C)FICA
D)All the choices are correct

Answer 3

C

Question 4

A company is required to withhold payroll taxes for:

A)Employees
B)Vendors
C)Subcontractors
D)All the choices are correct

Question 5

Which of the following is typically used to track time for a single activity?

A)Employee Tracker
B)Stopwatch
C)Timesheet
D)QuickTime

Question 6

In QuickBooks,time data is listed on customer invoices using the:

A)Timesheet icon
B)Pay Sales Taxes icon
C)Pay Employees button
D)Time/Costs button

Question 7

The following are payroll liabilities except:

A)Federal income taxes
B)Unemployment taxes
C)Sales taxes
D)FICA

Question 8

Which of the following ways to track time is not supported by QuickBooks?

A)Time Single Activity
B)Weekly Timesheet
C)Time clock
D)Online Timesheets

Question 9

The order of steps to process payroll is:

A)Enter Time > Pay Employees > Pay Payroll Liabilities > Process Payroll Forms
B)Enter Time > Pay Employees > Process Payroll Forms > Print Payroll Report
C)Pay Employees > Process Payroll Forms > Pay Payroll Liabilities
D)Enter Time > Pay Payroll Liabilities > Process Payroll Forms > Print Liabilities Report

Question 10

All of the following automatically calculate payroll tax withholdings in QuickBooks except:

A)Basic Payroll
B)Assisted Payroll
C)Enhanced Payroll
D)All of the choices automatically calculate payroll tax withholdings

Question 11

Which of the following is not a payroll report:

A)Form W-2
B)Form 1065
C)Form 944
D)Form 941

Question 12

What is the purpose of Federal Form 940?

A)Summarize the amount of unemployment tax paid and due by the company
B)Summarize the amount of federal income tax,Social Security,and Medicare withheld from employee paychecks for the quarter
C)Summarize the amount of federal income tax,Social Security,and Medicare withheld from employee paychecks for the year
D)Summarize all your W-2 forms

Question 13

What is the purpose of Federal Form 941?

A)Summarize the amount of unemployment tax paid and due by the company
B)Summarize the amount of federal income tax,Social Security,and Medicare withheld from employee paychecks for the quarter
C)Summarize the amount of federal income tax,Social Security,and Medicare withheld from employee paychecks for the year
D)Summarize all your W-2 forms

Question 14

Each year employees are sent Form ________ to summarize gross wages and tax withholdings for the year.

A)1099
B)W-2
C)W-3
D)W-4

Question 15

What QuickBooks activity comes next in this series of payroll activities: Enter Time > Pay Employees > ________ > Process Payroll Forms

A)Reconcile Payroll
B)Print Payroll Report
C)Pay Payroll Liabilities
D)None of the choices are correct

Question 16

When setting up a new employee,where do you get their filing status and allowances information?

A)Form W-9
B)Form W-4
C)Form W-3
D)Form W-2

Question 17

Which tax form summarizes payments made to subcontractors?

A)Form 940
B)Form 1022
C)Form 1099
D)W-2

Question 18

When tracking time for subcontractors,which QuickBooks window is used to enter subcontractor information?

A)Vendors List
B)Item List
C)Payroll Setup
D)Employee List

Question 19

An individual's status determines how to record payment to that individual. Which of the following status and payment methods is incorrect?

A)Vendor; Bill
B)Employee; Payroll
C)Stockholder; Dividend
D)None of the choices are correct

Question 20

The Payroll Center has the following sections except:

A)Pay Employees
B)Write Checks
C)Pay Scheduled Liabilities
D)File Tax Forms

Question 21

List two payroll tax forms and briefly explain their function.

Question 22

Name 3 (three)types of payroll liabilities and indicate who funds each one.

Question 23

Briefly describe what the Time by Job report tells management.