Business Administration
Chapter Exam Questions
Course Introduction
Business Administration is a multidisciplinary course designed to provide students with a comprehensive understanding of the principles and practices that govern modern organizations. The course covers essential topics such as management, finance, marketing, operations, human resources, and strategic planning. Students learn to analyze business environments, make informed decisions, and develop effective leadership skills. Emphasis is placed on problem-solving, communication, teamwork, and the ethical responsibilities involved in business practices. By the end of the course, students are equipped with the foundational knowledge and practical skills required to succeed in diverse roles within the business world or pursue advanced studies in management.
Recommended Textbook
Payroll Accounting 2018 28th Edition by Bernard
J. Bieg
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6 Chapters
398 Verified Questions
398 Flashcards
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Page 2
Chapter 1: The Need for Payroll and Personal Records
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Sample Questions
Q1) Which of the following laws establishes the minimum wage?
A) Fair Labor Standards Act
B) Federal Income Tax Act
C) Federal Insurance Contributions Act
D) Federal Unemployment Tax Act
E) Fair Employment Laws
Answer: A
Q2) The FLSA provides health insurance for the aged and disabled (Medicare).
A)True
B)False Answer: False
Q3) Employers are now required to photocopy new employees' Form I-9 documents.
A)True
B)False
Answer: False
Q4) Form I-9 must be completed by each new hire.
A)True
B)False Answer: True
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Chapter 2: Computing Wages and Salaries
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Sample Questions
Q1) When employees spend time changing clothes on the employer's premises,this time must be counted as part of their principal activities for which they are always fully compensated.
A)True
B)False
Answer: False
Q2) Refer to Instruction 2-1 Abel works a 37 1/2 hour week at $10.75 an hour.Overtime hours are paid at 1 1/2 times the regular rate.
(a)Abel's regular weekly earnings are ____________.
(b)Abel's overtime rate is _____________.
(c)If Abel works 6 hours overtime during one week,calculate Abel's total gross earnings
Answer: a.(37 1/2 x $10.75)= $403.13
b.($10.75 x 1.5)= $16.13
c. [$403.13 + (6 x $16.13)] = $499.91
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4
Chapter 3: Social Security Taxes
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Sample Questions
Q1) The highest paid executives of a firm are excluded from coverage under the Federal Insurance Contributions Act (FICA).
A)True
B)False
Answer: False
Q2) Each of the following items is accurately defined under FICA as taxable wages except:
A) value of meals furnished employees for the employer's convenience.
B) value of meals furnished employees for the employees' convenience.
C) commissions.
D) severance pay.
E) $500 award for productivity improvement suggestion.
Answer: A
Q3) A worker hired by the federal government in 2018 is covered under FICA.
A)True
B)False
Answer: True
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Chapter 4: Income Tax Withholding
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Sample Questions
Q1) The standard deduction varies according to whether the wage-bracket method or the percentage method is used.
A)True
B)False
Q2) Since not-for-profit corporations are exempt from federal income taxes,they are not defined as employers under the federal income tax withholding law.
A)True
B)False
Q3) When you pay supplemental wages at the same time as regular wages,the method of calculating the withholding is the same for vacation payments as for semiannual bonuses.
A)True
B)False
Q4) If married employees do not claim their marital status on Form W-4,the employer must withhold according to the withholding tables for single employees.
A)True
B)False
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Chapter 5: Unemployment Compensation Taxes
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Sample Questions
Q1) There is a uniform rate of unemployment benefits payable by all states.
A)True
B)False
Q2) Currently,none of the states imposes an unemployment tax on employees.
A)True
B)False
Q3) Directors of corporations who only attend and participate in board of directors' meetings are not covered as employees under FUTA.
A)True
B)False
Q4) Refer to Instruction 5-1.Niemann Company has a SUTA tax rate of 7.1%.The taxable payroll for the year for FUTA and SUTA is $82,600. a) The amount of FUTA tax for the year is______________
b) The amount of SUTA tax for the year is______________
Q5) A federal unemployment tax is levied on:
A) employees only.
B) both employers and employees.
C) employers only.
D) government employers only.
E) no one.
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Chapter 6: Analyzing and Journalizing Payroll
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Sample Questions
Q1) Refer to Exhibit 6-1.Journalize the entry to record the payroll.
Q2) When withheld union dues are turned over to the union by the employer,a journal entry is made debiting the liability account and crediting the cash account.
A)True B)False
Q3) Deductions from gross pay in the payroll register are reflected on the credit side of the journal entry to record the payroll.
A)True
B)False
Q4) Companies usually provide a separate column in the payroll register to record the employer's payroll taxes.
A)True B)False
Q5) Since the credit against the FUTA tax (for SUTA contributions)is made on Form 940,the employer's payroll tax entries should include the FUTA tax at the gross amount (6.0%).
A)True B)False
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