05 Jun Question 2015
Question
2015
TEST 4
e d i t i o n
PAYROLL
ACCOUNTING
Student
Chapter 4
Date
SCORING RECORD
Section Total Points
Bieg/Toland
A
Score
20
B
Deductions
50
C
30
Total
100
Section ADIRECTIONS: Complete each of the following sentences by writing in the Answers column the
letter of the word or words that correctly completes each statement. (2 points for each correct answer)
For
Answers Scoring
1. Which of the following fringe benefits is taxable? (A) membership in a country club, (B) use of onpremise athletic facility, (C) job-placement assistance, (D) qualified employee discounts, (E) reduced tuition for education. …………………………………………………………………………………………………
2. All of the following persons are classified as employees under the federal income tax withholding
law with the exception of (A) a first-line supervisor, (B) the president of a corporation, (C) a
partner, (D) an elected official in the state government, (E) an officer of the federal government. ..
3. If an employee files an amended W-4, the employer must make the W-4 effective no later than
the (A) next payday, (B) start of the first payroll period ending on or after the 30th day from the
W-4 receipt date, (C) 10th day from the W-4 receipt date, (D) first pay in the next quarter,
(E) first pay in the next year. ……………………………………………………………………………………………….
4. Ron Case, married with four dependents, failed to complete and file Form W-4 with his employer.
The employer should (A) withhold federal income taxes as if Case were single and claimed
six allowances, (B) withhold federal income taxes as if Case were married and claimed no
allowances, (C) withhold federal income taxes at a rate of 25% of Cases wages, (D) refuse to pay
Case until his Form W-4 is filed, (E) take none of the above actions. ………………………………………..
5. Employers must submit Forms W-4 to the IRS for (A) all Forms W-4, (B) those claiming more
than 10 allowances, (C) all Forms W-4 claiming exemption, (D) those requested in writing by
the IRS, (E) those requesting additional amounts to be withheld. ……………………………………………..
6. The withholding on vacation wage payments is (A) a flat 15%, (B) based on the total amount of
the wage payment plus the vacation pay, (C) taxed as though it were a regular payment for the
periods occurring during the vacation period, (D) tax-free, (E) a flat 25%. ………………………………..
7. A publisher is preparing information returns to report the royalties paid to authors (nonemployees)
during the prior calendar year. The proper information return to be completed is (A) Form W-2,
(B) Form W-3, (C) Form 1099-MISC, (D) Form 1099-DIV, (E) any of the above forms. ……………
8. Which of the following forms is not completed by the employer? (A) W-2, (B) W-3, (C) Form
941, (D) W-4, (E) Form 1099-MISC …………………………………………………………………………………….
9. Both the percentage method and the wage-bracket method of withholding have each of the
following characteristics except (A) unmarried persons are distinguished from married persons,
(B) a table of allowances values is used, (C) employees are given the full benefit of the allowances
they claim, (D) tables and wage-bracket charts are used to determine the amount withheld,
(E) the standard deduction is taken into account. ……………………………………………………………………
10. Wolf Company is giving a net bonus check of $500 to all of its employees. If each of the payments
are subject to FIT (25% supplemental rate) and FICA taxes, but no state taxes, the gross amount
of each bonus check would be (A) $742.39, (B) $663.75, (C) $656.00, (D) $662.75, (E) none of these. ………
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