ACCOUNTING 5 PCL MIDERM EXAM QUESTIONS AND ANSWERS 2022 GRADED A
1. The main stakeholders of the payroll function are:
A. external stakeholders
B. federal and provincial/territorial governments
C. internal stakeholders
D. all of the above
2. The rates for calculating Canada Pension Plan (CPP) contributions are changed by the:
A. federal government through regulations
B. federal government through legislation
C. provincial government through regulations
D. provincial government through legislation
3. Which of the following is not one of the factors that the Canada Revenue Agency (CRA) uses
to distinguish a contract of service from a contract for service?
A. Level of control the payer has over the worker
B. Degree of financial risk taken by the worker
C. Worker's opportunity for profit
D. The amount of remuneration paid
4. What is the possible result of payroll non-compliance?
A. Fines, penalties and interest charges
B. Jail sentence
C. Visit from a government officer
D. All of the above
,5. Which of the following is not one of the factors used by The Canada Revenue Agency (CRA)
to determine a contract of service?
A. Whether or not the worker provides the tools and equipment
B. Submission of an invoice to accounts payable
C. The degree of financial risk taken by the worker
D. Level of control the payer has over the worker
6. The process of paying employees in exchange for the services they perform is referred to as:
A. contract for service
B. government legislation
C. payroll
D. none of the above
7. In which of the following places of employment would the employees fall under federal
jurisdiction?
A. Insurance agency
B. Retail store
C. Canada Post Corporation
D. Trust company
8. A payroll practitioner's knowledge consists of:
A. information on payroll compliance legislation
B. information on payroll processes and payroll reporting
C. technical, professional and personal skills
D. all of the above
, 9. Individuals, groups and agencies who share an interest in the function and output of the
payroll department, are referred to as:
A. stakeholders
B. government
C. employers
D. unions
10. An employee working in the telecommunication industry and living in Nova Scotia is subject
to the labour/employment standards of which jurisdiction?
A. Nova Scotia
B. Québec
C. Ontario
D. Federal
11. Pension providers and charities are considered to be what type of stakeholder of the payroll
department?
A. Both external and government
B. External
C. Government
D. Internal
12. Effective payroll practitioners should be:
A. conscientious
B. discreet
C. trustworthy
D. all of the above
1. The main stakeholders of the payroll function are:
A. external stakeholders
B. federal and provincial/territorial governments
C. internal stakeholders
D. all of the above
2. The rates for calculating Canada Pension Plan (CPP) contributions are changed by the:
A. federal government through regulations
B. federal government through legislation
C. provincial government through regulations
D. provincial government through legislation
3. Which of the following is not one of the factors that the Canada Revenue Agency (CRA) uses
to distinguish a contract of service from a contract for service?
A. Level of control the payer has over the worker
B. Degree of financial risk taken by the worker
C. Worker's opportunity for profit
D. The amount of remuneration paid
4. What is the possible result of payroll non-compliance?
A. Fines, penalties and interest charges
B. Jail sentence
C. Visit from a government officer
D. All of the above
,5. Which of the following is not one of the factors used by The Canada Revenue Agency (CRA)
to determine a contract of service?
A. Whether or not the worker provides the tools and equipment
B. Submission of an invoice to accounts payable
C. The degree of financial risk taken by the worker
D. Level of control the payer has over the worker
6. The process of paying employees in exchange for the services they perform is referred to as:
A. contract for service
B. government legislation
C. payroll
D. none of the above
7. In which of the following places of employment would the employees fall under federal
jurisdiction?
A. Insurance agency
B. Retail store
C. Canada Post Corporation
D. Trust company
8. A payroll practitioner's knowledge consists of:
A. information on payroll compliance legislation
B. information on payroll processes and payroll reporting
C. technical, professional and personal skills
D. all of the above
, 9. Individuals, groups and agencies who share an interest in the function and output of the
payroll department, are referred to as:
A. stakeholders
B. government
C. employers
D. unions
10. An employee working in the telecommunication industry and living in Nova Scotia is subject
to the labour/employment standards of which jurisdiction?
A. Nova Scotia
B. Québec
C. Ontario
D. Federal
11. Pension providers and charities are considered to be what type of stakeholder of the payroll
department?
A. Both external and government
B. External
C. Government
D. Internal
12. Effective payroll practitioners should be:
A. conscientious
B. discreet
C. trustworthy
D. all of the above
