NURSING TEST

FPC Chapter 2 Questions & Answers A computerized payroll system can help a payroll department accomplish all the following tasks EXCEPT: a. compliance with laws and regulations b. producing timely, accurate paychecks c. record retention d. recognize changes in laws and regulations d. Payroll professionals must research the constantly changing laws and regulations to ensure the payroll system remains in compliance. If you need very rapid response time with minimal lag between in...

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 Review Questions & Answers An employee works from midnight to 8:00am on a company paid holiday but does not work more than 40 hours during the workweek. Under the FLSA, the employee must be paid... a) At least the federal minimum wage for all hours worked b) Time and one half for working the holiday c) A shift differential for working the late-night shift d) Double time for working the holiday a) At least the federal minimum wage for all hours worked Under the FLSA, a nonexempt ...

FPC Quiz 2 Questions & Answers When an employee has a single charitable contribution deducted from their pay, in order to take the deduction on their personal income tax return, they must have documentation from the employer and the charitable organization if the contribution is greater than: a) $50 b) $100 c) $250 d) any dollar amt c) $250 i put B The Internal Revenue Code requires taxpayers who make charitable contributions of $250 or more through a payroll deduction obtain writt...

FPC Chapter 1 Questions & Answers An independent contractor invoiced a company $1,401.00 for services performed. The contractor did not provide a TIN before the payment was made. Calculate the federal income tax that must be withheld from the contractor's payment. $392.28 (1401 * 0.28) **A 28% backup withholding tax on nonwage payments is withheld if the payee has failed to provide a Taxpayer Identification Number (TIN) or the IRS has notified the payer that the TIN is incorrect.** ...

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 Payroll Fundamentals 1.9, 1.10 Questions & Answers IRS requires marital status and allowances are obtained from Form W-4 Major Payroll Tasks Compliance with federal, state and local regulations Timely and accurate issuance of paychecks Periodic reporting Record retention Control and Security Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:00 / 0:15 Full screen Brainpower Read More Federal Requirements for a Master File - Employee Data ...

FPC Practice Test #2 Questions and Answers An employee works from midnight to 8:00 a.m. on a company paid holiday but does not work more than 40 hours during the work- week. Under the FLSA, the employee must be paid: at least the federal minimum wage. Which of the following statements about the FLSA overtime requirements is correct? An employer may establish one workweek for clerical employees and another for assembly workers. Previous Play Next Rewind 10 seconds Move f...

FPC Exam Chapter 1 Questions & Answers Challenges to payroll 1. Complexity = Federal, state and local laws change frequently and must be incorporated into company policies 2. Communication = clear, consise payroll information 3. Technology = software, equipment and web-based applications can enhance payroll process (automatic time keeping, record storage and retrieval) 4. Accuracy = employee's pay, tax filing, management of reports, etc. Employees vs. Independent Contractors...

FPC Practice questions & Answers cafeteria plan are authorized by what Internal Revenue Code Section? A. 125 B. 401k C. 403b D. 457b 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 C. must withhold income, social security, and medicare taxes Previous Play Next Rewind 10 secon...