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PayrollOrg

CPP

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Question: 140

Which of the following agencies would most likely enforce rules governing the number of days following the close of the payroll period that employees must be paid?

1. Social Security Administration

2. State labor department

3. State workers' compensation board

4. Internal Revenue Service

Answer: B

Question: 141

The term used to describe the breaking away from traditional theories and perceptions is:

1. Doctrinaire approach

2. Cognitive deviation

3. Pygmalion effect

4. Paradigm shift

Answer: D

Question: 142

The entry to record a salary advance to an employee is:

1. Debit salary expense, credit cash

2. Debit salary expense, credit wages payable

3. Debit accounts receivable, credit cash

4. Debit cash, credit accounts receivable

Answer: C

Question: 143

The entry to record an employee's repayment of a salary advance is (salary advance is deducted on a pretax basis from regular wages):

1. Debit salary expense, credit wages payable

2. Debit cash, credit salary expense

3. Debit salary expense, credit accounts receivable

4. Debit accounts receivable, credit cash

Answer: C

Question: 144

Which of the following would not be included in the job description of a payroll specialist?

1. Sorting checks and deposit statements for distribution

2. Calculating bonus and severance pay

3. Crafting policy for employee benefits

4. Entering direct deposit information
   
   Answer: C

Question: 145

For IRS purposes, the payroll register should be retained for a period of not less than how many years?

1. 4

2. 11

3. 3

4. 2

Answer: A

Question: 146

A statutory employee's pay is subject to which of the following taxes?

1. Federal income tax, Social Security, and Medicare

2. None

3. Social Security, Medicare and FUTA

4. Federal income tax

Answer: C

Question: 147

Form 5500 reporting would be required for which of the following stock plans?

1. Restricted stock

2. ESOP (employee stock ownership plan)

3. ISO (incentive stock option)

4. NSO (nonincentive stock option)
   
   Answer: B

Question: 148

A cross-functional work team is an important element of:

1. Claim of right

2. Business process reengineering

3. Management by objective

4. Benchmarking

Answer: B

Question: 149

Which of the following is an example of a system edit?

A. The payroll specialist re-enters an employee's ZIP code

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