BUNDLE FOR FPC EXAM QUESTIONS AND CORRECT ANSWERS ALREADY PASSED

FPC1 EXAM QUESTIONS WITH 100% CORRECT ANSWERS 1) A change in the demand for apples could result from any of the following EXCEPT - Answer-C) a change in the price of an apple. 2) If the demand for used cars decreases after the price of a new car falls, used cars and new cars are - Answer-substi...

FPC ACTUAL EXAM QUESTIONS WITH ALL CORRECT ANSWERS 2025 LATEST UPDATE Which box on the 2021 Form W-2 is correctly matched with its use? a. Box 3--Social security tax withheld b. Box 8--FIT withheld c. Box 10--Nonqualified plans d. Box 12 (Code J)--Nontaxable sick pay - Answer-d. Box 12 (Co...

FPC EXAM QUESTIONS AND ANSWERS PASS GUARANTEED PASS 2025 NEWEST VERSION What is a cafeteria plan? - Answer-A plan in which all participants are employees who choose from a minimum of two or more benefits that consist of cash and qualified benefits. What are some qualified benefits? - Answer-...

FPC EXAM QUESTIONS WITH CORRECT ANSWERS The following is not a characteristic of a flexible spending account cafeteria plan - Answer-Benefits are taxable. If the employers total tax liability for the quarter is less than 2,500, when must the taxes be paid? - Answer-By the due date on the form...

FPC EXAM ACTUAL QUESTIONS AND ANSWERS 100% CORRECT What statement shows the company's net income or loss for an accounting period? - Answer-Income statement An employer contributes $350.00 per month to each employee's Sec. 125 plan for medical benefits. An employee, who has other medica...

FPC Chapter 3 Test Questions with All Correct Answers All of the following items are taxable compensation EXCEPT: A. a $40.00 gift card to a department store. B. severance pay. C. reimbursement for job-related courses. D. employer-paid transit passes in excess of $255.00 a month - A...

FPC Certification Exam Questions with 100% Correct Answers What is included on form 1099-MISC? - Answer-Form 1099-MISC states how much the contractor was paid for services rendered during the past calendar year. A copy of this form must also be sent to the Internal Revenue Service (IRS). When...

FPC Practice Questions with 100% Correct Answers 2024/2025 Latest Update When does an exempt W4 expire? a. at the end of each quarter b. Feb 15 of next year c. it continues as long as the ee is subject to ss tax d. dec 31 each year - Answer-B. Feb 15 of the next year When making a supplemen...

FPC CHAPTER 2 EXAM QUESTIONS AND ANSWERS 100% CORRECT When making a supplemental wage payment to an employee whose YTD supplemental wages exceed $1,000,000.00, what tax rate is used to calculate federal income tax withholding? A. 7.65% B. 25% C. 35% D. 39.6% - Answer-D. 39.6% Which...

FPC Prep Test Questions and Answers All Correct Who is required by the immigration Reform and Control Act (IRCA) to verify employee's eligibility of employment in the U.S? - Answer-The Employer What form is used to verify eligibility and when must it be filled out? - Answer-the form I-9 mu...

FPC1 Flashcards Questions with All Correct Answers Which of the following equations is correct? - Answer-MSC = MC + marginal external cost If the marginal social cost of generating a kilowatt of electricity is $0.10 and the marginal private cost is $0.08, what is the marginal external cost? - A...

FPC Review Exam Questions and Correct Answers What information is required to set up direct deposit? - Answer-Type of account, account and bank routing numbers What are the two most common methods to calculate withholding on regular wages? - Answer-Percentage and wage bracket methods Do...