ACCT 160 Chapter 01 Study Guide Questions and Answers 100% Pass

ACCT 160 Chapter 01 Study Guide Questions and Answers 100% Pass The Age Discrimination in Employment Act of 1967 prevented mandatory retirement for workers over the age of: A) 52. B) 47. C) 42. D) 40. - ANSWER-D) 40. The Age Discrimination in Employment Act of 1967 prevented mandatory retirement for workers over the age of: A) 55. B) 50. C) 45. D) 40. - ANSWER-D) 40. Copyright ©SOPHIABENNETT 2025 ACADEMIC YEARALL RIGHTS RESERVED. Page 2/33 Which Act extended medical benefits for certain terminated employees? A) ADEA B) COBRA C) OSHA D) ERISA - ANSWER-B) COBRA Within how many days after initially commencing work must an employer report a new employee, according to PRWOR? A) 27 B) 30 C) 20 D) 49 - ANSWER-C) 20 Within how many days after initially commencing work must an employer report a new employee, according to PRWOR? A) 7 B) 10 Copyright ©SOPHIABENNETT 2025 ACADEMIC YEARALL RIGHTS RESERVED. Page 3/33 C) 20 D) 30 - ANSWER-C) 20 The Sarbanes-Oxley Act legislated penalties for violations of which Act? A) HIPAA B) ERISA C) PRWOR D) DOMA - ANSWER-B) ERISA The U.S. v. Windsor case repealed an Act and affected payroll tax withholdings for certain employees. Which Act did Windsor repeal? A) OSHA B) ARRA C) ATRA D) DOMA - ANSWER-D) DOMA The purpose of payroll legislation is to: Copyright ©SOPHIABENNETT 2025 ACADEMIC YEARALL RIGHTS RESERVED. Page 4/33 A) Increase the complexity involved in compensating employees. B) Protect the rights of employees by legislating workplace equity. C) Generate increased tax revenue for governmental entities. D) Promote governmental involvement in business activities. - ANSWER-B) Protect the rights of employees by legislating workplace equity. According to FMLA, during the time that an employee is on family leave: A) The employer must not contact the employee during the leave. B) The employee is responsible for staying in touch with the employer. C) The employer may make changes to the employee's benefits. D) The employer is responsible for alerting the employee to changes in processes and benefits. - ANSWER-D) The employer is responsible for alerting the employee to changes in processes and benefits. The USERRA legislation provided the following: A) Military service members receive mandatory priority during the hiring process. B) Military service members receive preferential treatment for promotions and raises during the normal course of business. Copyright ©SOPHIABENNETT 2025 ACADEMIC YEARALL RIGHTS RESERVED. Page 5/33 C) Military members must receive the same promotions and compensation that they would have received when they return from active duty. D) Injured military veterans must be allowed to return to work, but their compensation may be reduced based on their disability. - ANSWER-C) Military members must receive the same promotions and compensation that they would have received when they return from active duty. Payroll taxes were instituted by the 16th Amendment to the United States Constitution: A) To pay for governmental salaries. B) To make money from businesses that had employees. C) To fund infrastructure improvements of booming cities. D) To penalize people who needed employment. - ANSWER-C) To fund infrastructure improvements of booming cities. Employment legislation during the 1930s included which of the following Acts: A) FLSA, FUTA, and FICA. B) ADEA, Davis-Bacon Act, and FLSA. Copyright ©SOPHIABENNETT 2025 ACADEMIC YEARALL RIGHTS RESERVED. Page 6/33 C) Walsh-Healey Act, FICA, and ERISA. D) FUTA, ADA, and FLSA., - ANSWER-A) FLSA, FUTA, and FICA. The main purpose of the Federal Insurance Contributions Act (FICA) was to: A) Provide health insurance for all employees. B) Mandate worker's compensation insurance for employers. C) Provide life insurance for all employees. D) Provide benefits for workers who were unable to work because of age, disability, or death., - ANSWER-D) Provide benefits for workers