Payroll Fundamentals 1 Questions and Answers 100% Correct and Updated

Payroll Fundamentals 1 Questions
and Answers 100% Correct and
Updated
RQMandMCRAMdefineMaMcarMallowanceMasMreasonableMif:M-MAnswerM-
MTheMallowanceMisMbasedMsolelyMonMbusinessMkilometresMdrivenMinMaMcalendarMyear

-MtheMamountMprovidedMisMbasedMonMtheMfollowingMgovernment-
prescribedMreasonableMguidelinesM

M-
M$0.58MperMkmMforMtheMfirstM5,000MbusinessMkm'sMinMtheMyearM($0,62MinMtheMYuko
n,MNWTM&MNunavut)

M-M$0.51MthereafterM($0.56MforMYK,MNWT,MNT)

-
MtheMemployerMdoesMnotMreimburseMtheMemployeeMforMexpensesMrelatedMtoMtheMsam
eMuseMofMtheMvehicle



PersonalMDrivingMincludes:M-MAnswerM-MvacationMtravel

-MdrivingMtoMconductMpersonalMbusiness

-
MtravelMbetweenMhomeMandMwork,MevenMifMtheMemployerMinsistsMtheMemployeeMdrive
MtheMvehicleMhome



BusinessMdrivingMincludes:M-MAnswerM-
MdrivingMtoMexistingMandMprospectiveMclients,MpointsMofMcall,MandMotherMofficeMlocatio
nsMofMtheMemployer

-
MwhenManMemployeeMtravelsMdirectlyMfromMhomeMtoMaMpointMofMcall,MwhichMisMnot
MtheMemployer'sMplaceMofMbusinessMwhereMtheMemployeeMregularlyMreportsMforMwork

-MwhenMtheMemployeesMtravelsMhomeMdirectlyMfromMaMpointMofMcall



AvailabilityM(automobiles)M-MAnswerMTheMnumberMofMthirty-
dayMperiodsMthatMtheMautomobileMisMavailableMtoMtheMemployeeMforMtheMcurrentMtax
ationMyear.MTheMemployeeMhasMaccessMtoMorMcontrolMoverMtheMvehicle.



AutomobileM-
MAnswerMAMmotorMvehicleMthatMisMdesignedMorMadaptedMtoMprimarilyMcarryMindividual

,sMonMhighwaysMandMstreets,MandMhasMseatingMcapacityMofMnotMmoreMthanMtheMdriver
MandMeightMpassengers



IfMaMgiftMorMawardMisMgivenMtoManMemployeeMinMcashM-
MAnswerMTheMamountMisMconsideredMpensionable,MinsurableMandMtaxableMtoMtheMempl
oyee,MsubjectMtoMallMstatutoryMdeductions



OvertimeMmealMallowanceMisMconsideredMnon-taxableMifM(RQ):M-MAnswerM-
MovertimeMisMdoneMatMtheMemployer'sMrequestMandMisMexpectedMtoMlastMforMatMleas
tMtwoMconsecutiveMhours

-MovertimeMisMdoneMrarelyMorMonManMoccasionalMbasis

-MtheMmealMexpensesMareMreimbursedMuponMpresentationMofMreceipts

-MtheMmealMexpensesMreimbursedMorMtheMvalueMofMtheMmealMprovidedMisMreasonable



TheMfourMcategoriesMofMemploymentMincomeM-MAnswerM-MEarnings

-MAllowances

-MBenefits

-MTaxableMexpenseMreimbursement



EarningsM-
MAnswerMDollarMamountsMtheMemployerMpaysManMemployeeMforMtheMworkMtheyMperfo
rm



TypesMofMearningsM-MAnswerM-MaMsalary

-MaMrateMforMeachMhourMworked

-MaMrateMperMpieceMofMgoodsMproducedMorMpicked

-MaMdisabilityMpaymentMforMtimeMoffMworkMdueMtoMillness

-MaMpaymentMforMvacationMtime

-MaMpremiumMpaymentMforMovertimeMhoursMworked

-MaMpremiumMpaymentMforMhoursMworkedMonMshift



AllowancesM-
MAnswerMAdditionalMdollarMamountsMpaidMtoMemployeesMforMtheMuse,MorManticipatedM
use,MofMtheirMpersonalMpropertyMforMbusinessMpurposes

, BenefitsM-
MAnswerMDollarMvaluesMattributedMtoMsomethingMtheMemployerMhasMeitherMprovidedMt
oManMemployeeMorMpaidMforMonManMemployee'sMbehalf



ExpenseMReimbursementsM-
MAnswerMDollarMamountsMpaidMtoMemployeesMtoMcoverMexpensesMthatMtheyMincurMwh
ileMperformingMtheirMjob.



RegularMpaymentsM-MAnswerMHaveManMestablishedMfrequency,MsuchMasMweekly-
paidMsalaryMorMwages



Non-regularMpaymentsM-
MAnswerMpaymentsMthatMdoMnotMoccurMeachMpayMperiod,MforMexample,MaMbonusMor
MaMretroactiveMadjustment



SalaryM-
MAnswerMAMfixedMamountMofMmoneyMpaidMtoManMemployeeMforMeachMpayMperiod.



SalaryMperMpayMperiodM-MAnswerMAnnualMsalaryM/MnumberMofMpayMperiodsMperMyear



WagesM-
MAnswerMEarningsMwhichMareMbasedMonMtheMamountMofMtimeMworked,MusuallyMatMa
MrateMperMhourMorMperMday



RegularMearningsM-MAnswerMHourlyMrateMxMpayMperiodMregularMhoursMworked



PieceworkM-
MAnswerMAMrateMofMpayMearnedMperMunitMofMproduction,MregardlessMofMtheMlengthM
ofMtimeMtaken



Self-InsuredMDisabilityM-
MAnswerMEmployersMoftenMofferMdisabilityMcoverageMthatMprovidesMtheirMemployeesMwit
hMincomeMinMtheMeventMofMabsenceMdueMtoMillnessMorMinjury