Payroll Accounting Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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Question 1 1. Which is an example of a payroll tax?

Question 2 2. Which of these is NOT true about federal income taxes?

Question 3 3. What percent of the Medicare and social security does an employer pay?

Question 4 4. Which of these is FALSE about payroll taxes?

Question 5 5. What are payroll taxes?

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Question 6 6. Which of the following does a time sheet not include?

Question 7 7. What is the term for the amount of money you get after deductions are taken?

Question 8 8. Mark works at a local steakhouse. He turns in a time sheet that shows he worked 43 hours the past pay period (no overtime). He earns $5.80 per hour, and 10 percent of his wages are taken out for federal and state taxes. Each pay period, $50 is also taken out for his health insurance. An additional $30 is taken out for social security and other deductions. What is his net pay for this time sheet?

Question 9 9. What do you call the amount you earn before deductions are taken?

Question 10 10. What is a payroll?

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Question 11 11. Employers with more than $2,500 in federal tax withholdings file form _____.

Question 12 12. As of 2019, Social Security is taxed at _____ percent.

Question 13 13. As of 2018, the FUTA tax rate is _____ percent.

Question 14 14. Employers with more than $50,000 in withholdings in a lookback period must deposit taxes _____.

Question 15 15. FUTA taxes are reported on form _____.

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Question 16 16. How is an indirect employee different from a direct employee?

Question 17 17.

Robert received his payslip for the month of May 2017 and the following are mentioned:

Salary: $2500

Production Bonus: $100

Sick days: $150

Income tax: $500

Which of the following is NOT a type of compensation?

Question 18 18. Who, among the following persons, is involved in an indirect employment?

Question 19 19. The salaries or wages of _____ employees are often grouped under overhead expenses for a business.

Question 20 20. When should benefits, like sick days, be accounted for?

Payroll Accounting Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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