CE - Thurs - Quiz #4 - Financial Responsibility - Payroll Assessment

  • Financial Responsibility

    Payroll Assessment
  • 1. Labor Burden is:
  • 2. The employee Federal Withholding taxes must be matched by the employer.
  • 3. The amount withheld from an employee's paycheck for Federal Income tax is determined by form:
  • 4. Social Security and Medicare taxes are also known as:
  • 5. The employee and employer Social Security withholding is the same rate of 6.2%.
  • 6. The employee and employer Medicare Withholding is the same rate of 1.45%
  • 7. Which of the following forms must be filed on an ANNUAL basis?
  • 8. In 2015, the percent assigned to employers for the Federal Unemployment rate is:
  • 9. If an employer pays Federal Unemployment tax, they are exempt from State Unemployment tax.
  • 10. An employer can keep their Utah Unemployment Tax Rate lower by:
  • 11. Every employee must be given a W-2 postmarked by January 31st of each year.
  • 12. The amount of an employee's paycheck after taxes and deductions is called the ___________ pay.
  • 13. Form 941 is filed quarterly and reports Social Security Tax, Medicare and Withholding.
  • 14. The form used to verify employee eligibility is the:
  • 15. Employers are required to report newly hired and re-hired employees through the state New Hire Reporting System only if the employee is unable to provide I-9 documentation.
  • 16. Employers are required to have workers compensation insurance only on employees who work in the field.
  • 17. Businesses are required to display workplace posters even if they have only one employee.
  • 18. The federal laws enforced by the U.S. Equal Employment Opportunity Commission make it illegal to discriminate against a job applicant or employee.
  • 19. The Fair Labor Standards Act establishes:
  • 20. An employee who is paid overtime for anything worked over 40 hours in a workweek is classified as:
  • 21. Exempt job duties for purposes of determining whether an employee is exempt from overtime pay are executive, administrative, professional and outside sales duties.
  • 22. Independent contractors are defined by which of the following statements?
  • 23. Independent contractors should be given a form 1099 postmarked by January 31st if they were paid more than $600 during the year, and if they are not a corporation.
  • 24. Paying an unlicensed employee as an independent contractor could result in:
  • 25. Which of the following groups of months is the second quarter of a payroll year?
  • Should be Empty: