CPP Practice Exam 1-20 Questions & Answers 2023-24

CPP Practice Exam 1-20 Questions & Answers 2023-24 Which of the following features is LEAST likely to be considered when looking at the security of a new payroll system? - ANSWER-System Edits Company deadlines for payroll data input documents are essential for: A. timely processing of the payroll B. accurate entry of data C. guaranteeing that all information is processed D. adequate auditing purposes - ANSWER-Timely processing of the payroll An employee earns $9 per hour and an additional 10 cents per hour for hours worked after 7pm. If an employee works from 2-11pm, with an unpaid meal break from 6-7pm Monday through Friday, what is the employees weekly gross pay under the Fair Labor and Standards Act? - ANSWER-$362 (40 x $9) + (20 x $00.10) = $362 The BEST reason for tracking pay related problem statistics is to enable payroll to: - ANSWER-Identify root causes and and take actions to prevent similar recurrences. With regard to employees' reported tips, the employer must: - ANSWER-Report tips as wages on Form W-2 and pay the employer portion of social security and Medicare taxes. Transactions are recorded in chronological order into books of original entry called: - ANSWER-Journals The KEY advantage in using an automated time and attendance system is that of: - ANSWER-Reduces Errors