THE PAYROLL SOURCE CPP PACKAGE DEAL NEWEST 2024
ACTUAL COMPLETE REAL EXAM QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED ANSWERS)
|ALREADY GRADED A+||BRAND NEW!!(2025/2026)
Which of the following items represents an input interface to
the payroll system? a. general ledger
b. time and attendance
c. benefit payments
d. material usage records - ANSWER-b. time and attendance
All of the following practices are acceptable to an external
auditor EXCEPT: a. the accounting dept reconciling the
payroll checking account
b. the payroll supervisor verifying that deposits are made timely
c. storage of blank payroll checks in the payroll dept
d. the treasury dept being responsible for the signature of
payroll checks - ANSWER-c. storage of blank payroll checks
in the payroll dept
All of the following types of compensation are subject to social
security tax
EXCEPT:
a. tips under $100
b. deferred bonus
,c. third-party sick pay up to $3,000
d. workers' compensation benefits - ANSWER-d. WC benefits
Which of the following outcomes is the PRIMARY advantage of
developing an in-house system?
a. Outsiders are not involved in a firm's daily operations.
b. Costs are reduced and can be distributed on an equitable
basis.
c. The ER controls the entire computer system.
d. Time is saved by not having to explain business policies and
practices. - ANSWER-c. The ER controls the entire computer
system.
An EE covered by group health insurance at the time his
employment terminates to return to school is entitled to
COBRA continuation rights for: a. 12 months
b. 18 months
c. 24 months
d. 30 months - ANSWER-b. 18 months
How often are Form 940 taxable wages
reported? a. annually
b. semi-annually
c. quarterly
d. monthly - ANSWER-a. annual
, On a company's financial statements, payroll tax expense
appears in the:
a. balance sheet
b. accrued payroll
c. salaries expense
d. income statement - ANSWER-d. Income statement
What is the chief advantage of a vendor payroll
package? a. reduced processing time
b. inexpensiveness and ease of installation
c. no required major in-house system development
d. lower cost than a service provider contract - ANSWER-c. no
required major in-house system development
Which of the following elements is essential to a disaster
recovery plan? a. an excess supply of checks and direct
deposit stubs
b. a compatible off-site remote location to produce payrolls
c. detailed documentation of current company policies
d. a procedure for limiting security system access - ANSWER-a.
a compatible off-site remote location to produce payrolls
ACTUAL COMPLETE REAL EXAM QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED ANSWERS)
|ALREADY GRADED A+||BRAND NEW!!(2025/2026)
Which of the following items represents an input interface to
the payroll system? a. general ledger
b. time and attendance
c. benefit payments
d. material usage records - ANSWER-b. time and attendance
All of the following practices are acceptable to an external
auditor EXCEPT: a. the accounting dept reconciling the
payroll checking account
b. the payroll supervisor verifying that deposits are made timely
c. storage of blank payroll checks in the payroll dept
d. the treasury dept being responsible for the signature of
payroll checks - ANSWER-c. storage of blank payroll checks
in the payroll dept
All of the following types of compensation are subject to social
security tax
EXCEPT:
a. tips under $100
b. deferred bonus
,c. third-party sick pay up to $3,000
d. workers' compensation benefits - ANSWER-d. WC benefits
Which of the following outcomes is the PRIMARY advantage of
developing an in-house system?
a. Outsiders are not involved in a firm's daily operations.
b. Costs are reduced and can be distributed on an equitable
basis.
c. The ER controls the entire computer system.
d. Time is saved by not having to explain business policies and
practices. - ANSWER-c. The ER controls the entire computer
system.
An EE covered by group health insurance at the time his
employment terminates to return to school is entitled to
COBRA continuation rights for: a. 12 months
b. 18 months
c. 24 months
d. 30 months - ANSWER-b. 18 months
How often are Form 940 taxable wages
reported? a. annually
b. semi-annually
c. quarterly
d. monthly - ANSWER-a. annual
, On a company's financial statements, payroll tax expense
appears in the:
a. balance sheet
b. accrued payroll
c. salaries expense
d. income statement - ANSWER-d. Income statement
What is the chief advantage of a vendor payroll
package? a. reduced processing time
b. inexpensiveness and ease of installation
c. no required major in-house system development
d. lower cost than a service provider contract - ANSWER-c. no
required major in-house system development
Which of the following elements is essential to a disaster
recovery plan? a. an excess supply of checks and direct
deposit stubs
b. a compatible off-site remote location to produce payrolls
c. detailed documentation of current company policies
d. a procedure for limiting security system access - ANSWER-a.
a compatible off-site remote location to produce payrolls
