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FPC-Remote Exam Dumps - Fundamental Payroll Certification

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Question # 9

An employee earns $1,000 weekly. his deductions are $174 for federal income tax, $62 for social security tax, and $14.50 for medicare tax. He is not supporting another family and has never been in arrears in his child support payments. What is the maximum child support payment that can be withheld from his wages?

A.

$600

B.

$500

C.

$449.70

D.

$500.18

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Question # 10

Which tax withholidng method uses the average earnings for one pay period to determine the withholding per pay period?

A.

percentage method

B.

quarterly averaging method

C.

annualizing wage method

D.

none of the above

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Question # 11

An employee who files an exempt form W4 is exempt from the withholding of:

A.

federal income tax only

B.

social security tax only

C.

medicare tax only

D.

all taxes

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Question # 12

In what part of a 2020 form w4 does an employee claim dependents?

A.

step 3

B.

writing below step 4c

C.

step 2

D.

dependents are not claimed on form W4

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Question # 13

The integrity of the data can be verified by:

A.

balancing and reconciliation

B.

system edits

C.

validity checks

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Question # 14

Under which type of plans are employee contributions subject to social security and medicare taxes?

A.

401k only

B.

403b only

C.

457b only

D.

401k, 403b, and 457b

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Question # 15

Which of the following amounts is used when calculating an employee's gross up?

A.

disposable income

B.

take home pay

C.

gross income

D.

net pay

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Question # 16

Accounting data beings with a transaction. this information is first posted:

A.

on the income statement

B.

in the general ledger

C.

in the chart of accounts

D.

in the journal

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