Fpc processing 1 - Study guides, Class notes & Summaries

FPC Processing (1).

FPC Processing Questions and Answers (006) Correct any evidence of wear or deterioration in a clean room at the first opportunity in order to prevent. A) generation or accumulation of contaminants. (007) Inspect all printing equipment B) immediately before you use it. Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:07 / 0:15 Full screen Brainpower Read More (007) Flush mixing tanks and recirculation systems A) before and after mixing each ba...

FPC Exam Fundamental Payroll 668-W - Answer- Notice of Levy on Wages, Salary, and Other Income 1096 - Answer- Annual Summary and Transmittal of U.S. Information Returns Under the FLSA how old must a minor be to be employed? - Answer- 14 What is the FUTA tax rate? - Answer- 6.0% On form 941, the employer reports - Answer- Social Security Wages What is the formula for calculating an employees net pay? - Answer- Gross pay-deductions for taxes- other deductions Which plan discri...

FPC Practice Exam 188 Questions with Verified Answers Cafeteria plan are authorized by what Internal Revenue Code Section? A. 125 B. 401k C. 403b D. 457b - CORRECT ANSWER a. 125 all of the following are tax implications of a cafeteria plan except: a. no income tax withholding b. no social security and medicare tax withholding c. must withhold income, social security, and medicare taxes d. no form W2 reporting - CORRECT ANSWER C. must withhold income, social security, and medicare t...

FPC Certification Exam 62 Questions with Verified Answers FLSA - CORRECT ANSWER Fair Labor Standards Act Journal - CORRECT ANSWER Debits and credits to a specific ledger accout Is batch processing interactive? - CORRECT ANSWER No By when must employers inform employees to submit a new W-4 if marital status or # of allowances have changed? - CORRECT ANSWER December 1st Are non qualified deferred compensations plans subject to contribution limits? - CORRECT ANSWER No What plans a...

FPC Exam Complete Solutions SS8 Ans- Determination of worker status for purposes of federal employment taxes and income tax withholding; requests clarification on worker status Acceptable work time rounding practices Ans- Can round to the nearest quarter hour or 15 minutes; 1 to 7 minutes can be rounded down, 8 to 14 minutes must be rounded up Exempt employee classification Ans- Not entitled to the benefits and protections of the FLSA. May not have to be paid minimum-wage White collar ...

FPC Flash Cards Fall 2024 Chapter 9 (USG) Questions & Answers What is equity? Equity represents an owner's investment in the company, consisting of contributed capital and retained earnings. What is double-entry accounting? The process in a journal entry that records equal debits and credits for EVERY financial transaction. Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:00 / 0:15 Full screen Brainpower Read More What is the General L...

FPC Module 3 Quiz Questions plus Answers When would an employee have negative net pay? a) Taxes exceed other deductions b) Total deductions exceed gross wages c) Involuntary deductions exceed voluntary deductions d) Gross wages exceed total deductions Submit b) Total deductions exceed gross wages An employee's total deductions may exceed their gross wages, which results in negative net pay. (module 3 Lesson 2)v= M3L2 An exempt employee earns $1,430.00 semimonthly. The em...

FPC PRACTICE FINAL PART 1 Exam 39 Questions with Verified Answers Company deadlines for payroll data input documents are essential for: - CORRECT ANSWER Timely processing of payroll Which of the following practices is strong internal control? - CORRECT ANSWER Have a person, other than the person who requested and authorized payments to prepare the payroll checks Generally, what is the largest expense for most companies? - CORRECT ANSWER Salaries and benefits The process of balancing...

FPC Exam Fundamental Payroll 143 Questions with Verified Answers 668-W - CORRECT ANSWER Notice of Levy on Wages, Salary, and Other Income 1096 - CORRECT ANSWER Annual Summary and Transmittal of U.S. Information Returns Under the FLSA how old must a minor be to be employed? - CORRECT ANSWER 14 What is the FUTA tax rate? - CORRECT ANSWER 6.0% On form 941, the employer reports - CORRECT ANSWER Social Security Wages What is the formula for calculating an employees net pay? - CORREC...