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FPC-Remote Exam Dumps - Fundamental Payroll Certification

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Question # 25

In which type of account (asset, liability, expense or revenue) would each of the following entries appear?

A.

a new payroll computer

B.

purchase of computer paper

C.

money in a payroll checking account

D.

wages paid to employees

E.

ss tax and medicare tax withheld but not deposited

F.

employer cost of group term life insurance

G.

office furnitue

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Question # 26

If an employee provides an invalid form w4, the employer must:

A.

accept the form until the employee completes a new form.

B.

implement the form and notify the IRS

C.

refuse to accept the form

D.

implement the form as is

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Question # 27

When system generated tools do not agree to batch control totals, what must occur?

A.

continue processing

B.

finding the cause and correcting the error

C.

delay finding the error until more time is available

D.

document the difference and continue processing

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Question # 28

All employees must complete a new form w4 each year

A.

TRUE

B.

False

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Question # 29

How would each of the following be posted?

A.

increase in asset account

B.

decrease in liability account

C.

increase an expense account

D.

decrease an asset account

E.

increase a revenue account

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Question # 30

Would each of the following entries be posted in the account as a debit (DR) or credit (CR)?

A.

purchase of a desk in an asset account

B.

purchase of stationary in an expense account

C.

withdrawal from a payroll checking account

D.

employer contributions to a 401k plan in an expense account

E.

state income tax withheld but not deposited in a liability account

F.

federal income tax withheld but not paid in a liability account

G.

mortgage payment in a liability account

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Question # 31

Under the FLSA, what type of pay is included in a nonexempt employee's regular rate of pay calculation?

A.

paid vacation leave

B.

paid sick leave

C.

discretionary bonuses

D.

production bonuses

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Question # 32

All of the following types of records can be combined with payroll data in an integrated system except:

A.

personnel

B.

benefits

C.

purchasing

D.

human resources

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