Question 1

Abigail is a full-time worker whose primary occupation involves extensive overnight travel to visit wholesaler sites on the behalf of a single company. Which of the following classiﬁcations most
Accurately describes Abigail's employment status?

Accepted Answer

The answer of Abigail is a full-time worker whose primary...

Question 2

The ________ mandated that new hires must be reported within ________ days to state authorities.

Accepted Answer

The Immigration Reform and Control Act mandates that new hires must be reported within 20 days to state authorities. The other options do not pertain to reporting new hires.

Question 3

Which of the following is a necessary element in an accounting system? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a
Correct answer and double click the box with the question mark to empty the box for a
Wrong answer. Any boxes left with a question mark will be automatically graded as
Incorrect.)

Accepted Answer

Internal control is a necessary element in an accounting system to ensure accuracy, completeness, and reliability of financial information. Audit review and control are important, but not necessary elements, as they are external validations of the accounting system. Internal review is also important, but it falls under the larger umbrella of internal control.

Question 4

Which of the following is a purpose of new hire reporting? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct
Answer and double click the box with the question mark to empty the box for a wrong
Answer. Any boxes left with a question mark will be automatically graded as incorrect.)

Accepted Answer

The answer of Which of the following is a purpose...

Question 5

A payroll review process increases in complexity when:

Accepted Answer

When a company has multiple departments and many employees, the payroll process becomes more complex due to the need to manage various pay rates, benefits, and deductions for each group. This requires a system that can handle multiple pay structures and accurately calculate pay for each employee. Additionally, there may be different policies and regulations that need to be followed for each department, further adding to the complexity of the process.

Question 6

When a payroll clerk receives an approved request for an employee's time away from work, he or she should:

Accepted Answer

The approved request for time away from work should be attached to the employee's time collection report for the pay period so that the payroll clerk can ensure that the employee's time off is properly recorded and compensated.

Question 7

An employer must have an employee complete Form W-4:

Accepted Answer

Form W-4 is completed at the time of hire to determine the amount of federal income tax that should be withheld from an employee's paycheck. It may be updated at any time by the employee if there are changes to their tax situation.

Question 8

Georgeanne works in a company for which her primary job function is the sale of company products to consumers. She receives a percentage of each sale as part of her compensation. Her
Compensation contains a ________ element.

Accepted Answer

Georgeanne's compensation includes a commission, which means she receives a percentage of each sale as part of her compensation. This is a common pay-for-performance incentive in sales roles. Nonexempt refers to employees who are eligible for overtime pay, and piece-rate refers to a pay structure based on the number of units produced, neither of which are applicable to Georgeanne's job function.

Question 9

Stan works for a bakery for which part of his compensation is based on the decoration of wedding and other specialty cakes. His compensation has a ________ element.

Accepted Answer

The answer of Stan works for a bakery for which...

Question 10

Which items must be contained in every hiring packet issued by an employer?

Accepted Answer

The answer of Which items must be contained in every...

Question 11

Which entity bears the responsibility for gaining approval for a foreign worker visa so a foreign employee may work legally in the United States?

Accepted Answer

The employer is responsible for obtaining the necessary visa and work authorization for a foreign employee to legally work in the United States. This usually involves submitting a petition to the U.S. Citizenship and Immigration Services (USCIS) and obtaining an approved visa from the U.S. Department of State. The employee may need to provide supporting documentation, but ultimately it is the employer's responsibility to navigate the visa process.

Question 12

Outsourcing the payroll process:

Accepted Answer

Outsourcing the payroll process relieves the company of certain tasks, such as calculating and processing payroll, but it does not relieve the company of responsibility for reviewing the accuracy of the payroll information. The company must still review and approve the payroll information provided by the outsourcing firm to ensure its accuracy.

Question 13

A company should assign ________ employee(s) the responsibility for signing payroll checks and disbursements.

Accepted Answer

Assigning a limited number of employees to sign payroll checks and disbursements adds an extra layer of security and reduces the chances of fraud or errors. However, assigning only one person may increase the risk of fraud or embezzlement, and assuming that the most responsible employee is the only one who can handle this task is not a reliable criterion. So, the best option is to assign a limited number of employees to manage payroll checks and disbursements.

Question 14

Multistate employers must do which of the following for new hire reporting? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a
Correct answer and double click the box with the question mark to empty the box for a
Wrong answer. Any boxes left with a question mark will be automatically graded as
Incorrect.)

Accepted Answer

The answer of Multistate employers must do which of the...

Question 15

Josh, who is 21 years of age, is a new employee of XYZ Company. To establish his identity and employment authorization, he could present:

Accepted Answer

The best option is for Josh to present his current United States passport, which is a valid form of identification and proof of employment authorization. The other options do not provide sufficient evidence of identity and authorization to work in the United States.

Question 16

Why is it important for an employer to classify a worker as either an employee or an independent contractor?

Accepted Answer

It is important for an employer to classify a worker as either an employee or an independent contractor for tax reporting purposes. This affects how the worker is paid and how taxes are withheld from their pay. Misclassifying a worker can result in penalties and back taxes for the employer.

Question 17

Allen is an employee of the foreign subsidiary of a United States based company who lives and works in the United Kingdom. According to FATCA, how much of his wages may Allen exclude from
United States' taxes, according to 2019 guidelines?

Accepted Answer

According to the 2019 guidelines under the Foreign Earned Income Exclusion (FEIE) provision of FATCA, Allen can exclude up to $105,900 of his foreign earned income from U.S. taxes.

Question 18

Which of the following is subject to overtime in the process of hourly computations, according to FLSA?

Accepted Answer

According to the Fair Labor Standards Act (FLSA), overtime must be paid to nonexempt employees for all hours worked over 40 hours in a workweek. Work on weekends, holidays, sick time, and paid time off is not necessarily subject to overtime. Time worked in excess of eight hours per day is not a federal requirement for overtime, but may be subject to state or local laws.

Question 19

For payroll documentation purposes, when an employee needs time away from work:

Accepted Answer

The request for time away from work should be officially documented and sent to the payroll clerk to accurately track and document the employee's leave time. This ensures accuracy in payroll and compliance with company policies regarding time off. Upper management approval and verbal authorization from the supervisor may also be necessary depending on the nature of the request, but they do not replace the need for documentation. Emailing colleagues is not an appropriate method of documenting a time off request.

Question 20

Which of the following is a potential consequence of incorrect calculation of employee time for payroll purposes? (You may select more than one answer. Single click the box with the
Question mark to produce a check mark for a correct answer and double click the box with
The question mark to empty the box for a wrong answer. Any boxes left with a question
Mark will be automatically graded as incorrect.)

Accepted Answer

The answer of Which of the following is a potential...

Quiz 2: Payroll System Procedures

Abigail is a full-time worker whose primary occupation involves extensive overnight travel to visit wholesaler sites on the behalf of a single company. Which of the following classiﬁcations most Accurately describes Abigail's employment status?

The mandated that new hires must be reported within days to state authorities.