7.3 Learning Objective 7-3
1) Which tax does not have a wage base limit?
A) State unemployment tax
B) Federal unemployment tax
2) The payroll register:
A) is a worksheet.
B) shows all employee information related to an entire pay period.
C) keeps track of an individual employee’s payroll history for a calendar year.
D) Both A and B are correct.
3) The employee earnings record:
A) shows all employee information related to an entire pay period.
B) keeps track of an individual employee’s payroll history for a calendar year.
C) is one of two primary records used to track payroll information.
D) Both B and C are correct.
4) To examine in detail the weekly payroll of all employees, one would look at the:
C) payroll register.
D) employee earnings record.
5) The payroll register includes sections for recording:
A) gross pay, deductions, and net pay.
B) assets, liabilities, equity, revenues, and expenses.
C) trade accounts receivable and short-term note receivables.
D) accrued expenses, unearned revenues, and net pay.
6) Which report would an employer review if they wanted to check how much an employee has earned to date?
A) Individual employee earnings record
B) Payroll register
C) W-4 form
D) None of these answers are correct.
7) The payroll information for a pay period is found in the payroll register.
8) The taxable earnings column of the payroll register records the tax due.
9) The use of a payroll register to record a company’s payroll is optional.
10) Explain the purpose of workers’ compensation, and discuss the premium cost to the employer.
7.4 Learning Objective 7-4
1) The individual employee earnings record provides a summary of the following for a single employee, except:
B) withholding taxes.
C) net pay.
2) A calendar quarter consists of:
A) 13 weeks.
B) 12 weeks.
C) 14 weeks.
D) 4 months.