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1 | |
All of the following are included in the Payroll Item List except: |
| | A) | Federal Withholding |
| | B) | Social Security Employee |
| | C) | Federal Unemployment |
| | D) | Sales Tax Payable |
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2 | |
To enable QuickBooks payroll for Fearless Paint Store: |
| | A) | Click Vendors, Preferences, Payroll & Employees etc. |
| | B) | Click Tools, Preferences, Payroll & Employees etc. |
| | C) | Click Banking, Preferences, Payroll & Employees etc. |
| | D) | Click Write Checks, Preferences, Payroll & Employees etc. |
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3 | |
The employer must match which one of the following taxes paid by an employee? |
| | A) | Federal Unemployment |
| | B) | Medicare |
| | C) | Federal Income |
| | D) | State Income |
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4 | |
Which one of the following items is not needed when calculating employee net pay? |
| | A) | Federal Unemployment withholding |
| | B) | Number of Allowances |
| | C) | Filing Status |
| | D) | Extra Withholdings |
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5 | |
When creating paychecks using QuickBooks, you must deduct withholdings from employee's pay for all of the following except: |
| | A) | Federal income taxes |
| | B) | State income taxes |
| | C) | Federal Unemployment taxes |
| | D) | Social Security |
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6 | |
All of the following are payroll tax liabilities owed to outside agencies except: |
| | A) | Federal Income Taxes |
| | B) | State Income Taxes |
| | C) | Unemployment Taxes |
| | D) | Net Pay |
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7 | |
The following taxes are reported on Form 941 except: |
| | A) | State income taxes withheld from the employee paychecks |
| | B) | Federal income taxes withheld from the employee paychecks |
| | C) | FICA-Social Security (employer and employee) |
| | D) | FICA-Medicare (employer and employee) |
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8 | |
For small businesses, when is Form 941 filed with the IRS? |
| | A) | Quarterly |
| | B) | Annually |
| | C) | Monthly |
| | D) | Weekly |
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9 | |
QuickBooks provides payroll reports that: |
| | A) | Summarize assets, liabilities, and owner's equities. |
| | B) | Summarize amounts paid to employees and amounts paid in payroll taxes |
| | C) | Summarize revenues and expenses |
| | D) | Summarize the effects of payroll on the owner's investment |
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10 | |
Net Pay is equal to: |
| | A) | Gross pay plus deductions for FICA taxes and federal and state income taxes |
| | B) | Gross pay minus deductions for FICA taxes and federal and state income taxes |
| | C) | Gross pay minus deductions for federal and state income taxes and unemployment taxes |
| | D) | Gross pay minus state and federal income taxes, but not FICA taxes |
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