Payroll Fundamentals
1 Midterm Exam 2024
Solved Questions &
Answers..
Commencement hpackage h(Ch.1) h- h(CORRECT hANSWER)--Organization hspecific hforms
h (personal hinformation hforms)
-Government hforms h(federal hand hprovincial hpersonal htax hcredits hreturn) h
-Benefit hforms h(insurance henrollment hforms)
Hiring hform h(ch.1) h- h(CORRECT hANSWER)-May hinclude hinformation hon htheir hposition
h such has hdepartment, hmanager, hstart hdate, hsalary/hourly hwage, hand hbenefit hentitlement
Information hthat hmust hbe hprovided hto hemployees h(ch.1) h- h(CORRECT hANSWER)--
Employee hname
-Date hof hpay hperiod
-Rates hof hpay hand hhours hof hwork hat heach hrate
,-Gross hearnings
-Itemized hdeductions
-Net hpay
TD1- hWS his hused hto hcalculate hpartial hclaim hamounts hfor... h(ch.1) h- h(CORRECT hANSWER)--
Age
-Canada hcaregiver hamount hfor heligible hdependent hor hspouse hor hcommon-law hpartner
-Canada hcaregiver hamount hfor hdependent(s) hage h18 hor hover
Federal hTD1, hProvincial/territorial hTD1, hand hQuebec hTP-1015.3-V hrequire... h(ch.1) h-
h (CORRECT hANSWER)--Name
-Date hof hbirth
-Social hinsurance hnumber
Other hcredits hemployees hcan hclaim hon htheir hFederal hand hProvincial/Territorial hTD1 hto
h lower htaxes h(ch.1) h- h(CORRECT hANSWER)--Being ha hcaregiver
-Being hover h65
-Receiving ha hpension h
-Being hor hsupporting ha hstudent hin hpost-secondary hstudies
-Being hdisabled
-Supporting ha hspouce
-Living halone h(Quebec)
-Having hchildren hunder h18 h(Saskatchewan hand hYukon)
, Do hyou hhave hto hclaim hbasic hpersonal hprovincial/territorial hcredits? h(ch.1) h- h(CORRECT
h ANSWER)--No, hif honly hdoing hbasic
-Yes, hif hclaiming hchildren hunder h18 h(Sakatchewan hand hYukon)
-Yes, halways h(Quebec)
Employers hshould hreview hTD1 hand hTP-1015.3-V hforms hto hensure h(ch.2) h- h(CORRECT
h ANSWER)--Correct hemployee hname, hDate hof hbirth, hAddress, hand hSIN
-Correct hamounts hon hthe hform
-Amounts hclaimed hare htotaled hcorrectly
-Form hdoes hnot hcontain hobvious hfalse hstatements
-The hform his hsigned ha hdated
What hcertain hinformation hmust happear hon han hemployee's hstatement hof hwages? h(ch.2) h-
h (CORRECT hANSWER)--Name
-Rate hof hpay hand hhours hworked hat heach hrate
-Date hof hpay hperiod
-Gross hand hnet hpay
-Itemized hdeductions
Renumeration h(ch.2) h- h(CORRECT hANSWER)-Employee hreceived hcompensation hor hpay hfor
h the hservices hthey hperform h
-AKA hemployee hincome hwhen hemployer-employee hrelationship hexists
1 Midterm Exam 2024
Solved Questions &
Answers..
Commencement hpackage h(Ch.1) h- h(CORRECT hANSWER)--Organization hspecific hforms
h (personal hinformation hforms)
-Government hforms h(federal hand hprovincial hpersonal htax hcredits hreturn) h
-Benefit hforms h(insurance henrollment hforms)
Hiring hform h(ch.1) h- h(CORRECT hANSWER)-May hinclude hinformation hon htheir hposition
h such has hdepartment, hmanager, hstart hdate, hsalary/hourly hwage, hand hbenefit hentitlement
Information hthat hmust hbe hprovided hto hemployees h(ch.1) h- h(CORRECT hANSWER)--
Employee hname
-Date hof hpay hperiod
-Rates hof hpay hand hhours hof hwork hat heach hrate
,-Gross hearnings
-Itemized hdeductions
-Net hpay
TD1- hWS his hused hto hcalculate hpartial hclaim hamounts hfor... h(ch.1) h- h(CORRECT hANSWER)--
Age
-Canada hcaregiver hamount hfor heligible hdependent hor hspouse hor hcommon-law hpartner
-Canada hcaregiver hamount hfor hdependent(s) hage h18 hor hover
Federal hTD1, hProvincial/territorial hTD1, hand hQuebec hTP-1015.3-V hrequire... h(ch.1) h-
h (CORRECT hANSWER)--Name
-Date hof hbirth
-Social hinsurance hnumber
Other hcredits hemployees hcan hclaim hon htheir hFederal hand hProvincial/Territorial hTD1 hto
h lower htaxes h(ch.1) h- h(CORRECT hANSWER)--Being ha hcaregiver
-Being hover h65
-Receiving ha hpension h
-Being hor hsupporting ha hstudent hin hpost-secondary hstudies
-Being hdisabled
-Supporting ha hspouce
-Living halone h(Quebec)
-Having hchildren hunder h18 h(Saskatchewan hand hYukon)
, Do hyou hhave hto hclaim hbasic hpersonal hprovincial/territorial hcredits? h(ch.1) h- h(CORRECT
h ANSWER)--No, hif honly hdoing hbasic
-Yes, hif hclaiming hchildren hunder h18 h(Sakatchewan hand hYukon)
-Yes, halways h(Quebec)
Employers hshould hreview hTD1 hand hTP-1015.3-V hforms hto hensure h(ch.2) h- h(CORRECT
h ANSWER)--Correct hemployee hname, hDate hof hbirth, hAddress, hand hSIN
-Correct hamounts hon hthe hform
-Amounts hclaimed hare htotaled hcorrectly
-Form hdoes hnot hcontain hobvious hfalse hstatements
-The hform his hsigned ha hdated
What hcertain hinformation hmust happear hon han hemployee's hstatement hof hwages? h(ch.2) h-
h (CORRECT hANSWER)--Name
-Rate hof hpay hand hhours hworked hat heach hrate
-Date hof hpay hperiod
-Gross hand hnet hpay
-Itemized hdeductions
Renumeration h(ch.2) h- h(CORRECT hANSWER)-Employee hreceived hcompensation hor hpay hfor
h the hservices hthey hperform h
-AKA hemployee hincome hwhen hemployer-employee hrelationship hexists
