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- Question 1: Which of the following appears on the W-3 Form but does not appear on the W-2 Form? Answer: A. O Federal income tax withheld В. O Kind of payer С. Social Security wages D. Dependent care benefitsQuestion 11: Where are the withholding tables used for the wage-bracket method of determining federal income withholding found? Answer: A. Form l-9 В. Payroll register С. Form W-4 Publication 15-T B. D.Question 6: Which of the following is not a voluntary deduction from gross earnings? Answer: A. O Union dues B. O State disability insurance C. O Payroll deduction IRA D. Cafeteria plan
- Question 8: Which of the following is not a mandatory deduction from gross pay? Answer: A. Federal income tax withholding В. Union dues C. Social Security tax D. Medicare tax B.11. Voluntary payroll deductions may include all of the following deductions, except for: a. union duesb. 401K deductionsc. group hospital insuranced. FICA taxesWhich of the following is considered an employer payroll tax? A. FICA Medicare B. FUTA C. SUTA D. A and B only E. B and C only F. A, B, and C
- Question 7: Contributions to which of the following retirement plans are subject to federal income tax withholding? Answer: A. O 401(k) В. O 403(b) С. O SIMPLE IRA D. O Payroll Deduction IRAA. Describe THREE (3)features of payroll taxes B. Explain the purpose of each of the following payroll taxes: Income Tax (PAYE) NIS NHT ED TAXQuestion 1 Under which circumnstances should a company disclose contingent liabilites in the footnotes of the financial statements? I. When it is probable the company will suffer a loss and the liability can be measured II. When it is probable the company will suffer a loss but the liability cannot be measured III. When is it only reasonably possible that the company will suffer a loss Il and II O l only I and II O , I, II
- Match each payroll item that follows to the one item (a–f) that best describes its characteristics. - a. b. c. d. e. f. Federal income tax - a. b. c. d. e. f. FICA —Social security - a. b. c. d. e. f. FICA —Medicare - a. b. c. d. e. f. Federal unemployment compensation tax (FUTA) - a. b. c. d. e. f. State unemployment compensation tax (SUTA) a. Amount is limited, withheld from employee only b. Amount is limited, withheld from employee and matched by employer c. Amount is limited, paid by employer only d. Amount is not limited, withheld from employee only…Question 8: Collectively, Social Security tax and Medicare tax are referred to as FICA taxes. Answer: A. O True В. O FalseQuestion 3: Which of the following items is not reported on the W-2 Form? Answer: A. Dependent care benefits Union dues C. Hours worked D. State income tax withheld B.