Payroll Fundamentals 1 Midterm 94 Questions with Verified Answers,100% CORRECT

Payroll Fundamentals 1 Midterm 94 Questions with Verified Answers,100% CORRECT Commencement package (Ch.1) Correct Answer: -Organization specific forms (personal information forms) -Government forms (federal and provincial personal tax credits return) -Benefit forms (insurance enrollment forms) Hiring form (ch.1) Correct Answer: May include information on their position such as department, manager, start date, salary/hourly wage, and benefit entitlement Information that must be provided to employees (ch.1) Correct Answer: -Employee name -Date of pay period -Rates of pay and hours of work at each rate -Gross earnings -Itemized deductions -Net pay TD1- WS is used to calculate partial claim amounts for... (ch.1) Correct Answer: -Age -Canada caregiver amount for eligible dependent or spouse or common-law partner -Canada caregiver amount for dependent(s) age 18 or over Federal TD1, Provincial/territorial TD1, and Quebec TP-1015.3-V require... (ch.1) Correct Answer: -Name -Date of birth -Social insurance number Other credits employees can claim on their Federal and Provincial/Territorial TD1 to lower taxes (ch.1) Correct Answer: -Being a caregiver -Being over 65 -Receiving a pension -Being or supporting a student in post-secondary studies -Being disabled -Supporting a spouce -Living alone (Quebec) -Having children under 18 (Saskatchewan and Yukon) Do you have to claim basic personal provincial/territorial credits? (ch.1) Correct Answer: -No, if only doing basic -Yes, if claiming children under 18 (Sakatchewan and Yukon) -Yes, always (Quebec) Employers should review TD1 and TP-1015.3-V forms to ensure (ch.2) Correct Answer: -Correct employee name, Date of birth, Address, and SIN -Correct amounts on the form -Amounts claimed are totaled correctly -Form does not contain obvious false statements -The form is signed a dated