The following Payroll MCQs have been compiled by our experts through research, in order to test your knowledge of the subject of Payroll. We encourage you to answer these 100 multiple-choice questions to assess your proficiency.
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A. Sick days.
B. Slack days.
C. Fake days.
D. Random office supplies.
A. Payroll Distribution Form
B. Funds Transfer Form
C. ACH Direct Transfer Form
D. Direct Deposit Form
A. Payment tax.
B. Income tax.
C. Sales tax.
D. Inheritance tax.
A. Contractor
B. Employees with poor performance.
C. Managers.
D. Employees.
A. Wage
B. Salary
A. Margin
B. Net
C. Gross
A. Benefits.
B. Shrinkage.
C. Rent.
D. Depreciation.
A. The total amount earned, after taxes
B. Neither of these
C. The total amount earned, before taxes
A. Unilateral delivery of checks and mail.
B. Successful delivery of checks to management.
C. Accurate and timely payment to employees including deductions and withholdings.
D. Casual payment of employees at random intervals.
A. Accounting.
B. Records keeping.
C. The recording of salaries, wages, bonuses, and deductions.
D. To hand out paychecks.
A. The state of which the employee lives in is responsible for taxes deducted from an employee's check.
B. The IRS is responsible for the taxes deducted from an employee's check.
C. The employee is responsible for taxes deducted from their check.
D. The employer is responsible for paying taxes deducted from an employee's check to the appropriate agency.
A. A person who gives an invoice to their client.
B. A person who is trained and hired.
C. A person using a 1099 for for tax reasons.
D. A person who is not employed.
A. True
B. False
A. A person who uses a W-2 for tax reasons.
B. Someone trained in-house.
C. A person receiving payment for a task in its entirety.
D. Someone receiving cash payments.
A. Never.
B. When the government requests it.
C. Only when the employee has agreed to them.
D. Any time.
A. Payroll is important because it allocates funds to those deemed worthy.
B. Payroll is not important.
C. Payroll and the taxes therein significantly impact the success of the company.
D. Payroll is entrusted with donating money.
A. garnishment
B. austerity
C. taxation
A. Commission
B. Seasonal
C. Full Time
D. None of the answers are correct
E. Part Time
A. Preferred taxes.
B. Private taxes.
C. There are no required deductions.
D. State taxes
A. The time when employees pay their taxes.
B. The period in time when businesses have to pay their taxes.
C. The one time per year that employees are paid.
D. A recurring period of time that time is recorded and paid.
A. It is the healthcare code.
B. It identifies transactions in a business.
C. It identifies a businesses entity.
D. It does nothing.
A. Employers are only half responsible.
B. Employers are responsible for paying both the employer and employee's portion of the Medicare tax.
C. Nobody is responsible.
D. Employers are not responsible.
A. 1099
B. 1077
C. 2055
D. 4531
A. W-5
B. W-1
C. W-8
D. W-2
A. Investment plan.
B. Employee stock purchase plan.
C. It is completely ignored.
D. Investing strategy.
A. Annually.
B. Bi-weekly.
C. Semi-annually.
D. Bi-monthly.
A. FICA taxes.
B. FISA taxes.
C. FINRA taxes.
D. NAFTA taxes.
A. Income tax.
B. 401(k)
C. Sales tax.
D. Luxury tax.
A. $600
B. $480
C. $500
D. $700
A. The true, legal owner of the business.
B. The agreements that a business is in.
C. The products that the business sells.
D. The amount of money the business makes.
A. No taxes.
B. Disability insurance tax.
C. Extraordinarily low taxes.
D. Tea tax.
A. Earned Income Credit
B. Earned Interest Credit
C. Earned Income Check
D. Earnings Income Tax Credit
E. None of these answers are correct
A. Independent Revenue Account
B. Individual Retirement Account
C. None of these
D. Interest Returns Account
A. Logical payment of bills.
B. Child support.
C. Good performance.
D. Sound financial planning.
A. False
B. True
A. I-95
B. I-9
C. W-4
D. W-2
A. None of the answers are correct
B. After taxes but before any other deductions are taken
C. Gross Wages before taxes
D. Net wages after taxes
A. SSMT
B. FICA
A. It must be during work hours.
B. It must be at work.
C. It must be after work hours.
D. The meal must have been job-related.
A. Medicare.
B. Income
C. Debt
D. Rent
A. 53
B. 26
C. 82
D. 36
A. Journal
B. Debit
C. Credit
D. Ledger
A. W-2
B. 1099
C. I-9
D. W-4
E. 1040
A. W-4
B. I-9
C. 1099 Misc Form
D. W-2
E. W-9
A. Single 5
B. Single 0
C. Widowed 0
D. Divorced 2
E. Married 1
A. None beside accurate record keeping.
B. Higher taxes for lower performance.
C. Lower taxes for higher performance.
D. Payment for tenured employees.
A. 1.45%
B. 4.2%
C. 7.65%
D. 5.2%
E. 5.65%
A. Local taxation
B. Direct deposits
C. Financial privacy
D. All of these
A. W-6
B. W-4
C. W-2
D. WD-40
A. 1.23%
B. 1.45%
C. 2%
D. 10%