Business Administration
Review Questions
Course Introduction
Business Administration is a multidisciplinary course designed to provide students with a comprehensive understanding of the principles and practices essential for managing and operating organizations effectively. Covering areas such as management, marketing, finance, human resources, and operations, this course equips students with the analytical and decision-making skills necessary to address complex business challenges. Emphasis is placed on strategic planning, leadership, ethical considerations, and adaptability in a global business environment. By exploring real-world case studies and contemporary business issues, students develop the practical knowledge and professional competencies needed for successful careers in both the private and public sectors.
Recommended Textbook
Payroll Accounting 2018 28th Edition by Bernard J.
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6 Chapters
398 Verified Questions
398 Flashcards
Source URL: https://quizplus.com/study-set/3737
Bieg
Page 2
Chapter 1: The Need for Payroll and Personal Records
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70 Verified Questions
70 Flashcards
Source URL: https://quizplus.com/quiz/74510
Sample Questions
Q1) Which of the following is not part of the social security program?
A) Federal Income Tax Law
B) Federal Old-Age and Survivors' Trust Fund
C) Medicare
D) Self-Employment Contributions Act
E) All are part of the social security program
Answer: A
Q2) The Age Discrimination in Employment Act provides protection to virtually all workers over the age of:
A) 50.
B) 65.
C) 70.
D) 75.
E) 40.
Answer: E
Q3) FUTA was designed to ensure that workers who are covered by pension plans receive benefits from those plans.
A)True
B)False
Answer: False
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Chapter 2: Computing Wages and Salaries
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80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/74509
Sample Questions
Q1) Refer to Instruction 2-1.Every two weeks,Linda Corson is paid $650.Corson works a 32-hour week.For overtime,she receives extra pay at the regular hourly rate up to 40 hours.For any hours beyond 40 during the workweek,she receives time and one-half.During one biweekly pay period,she worked 17 hours overtime.Only 3 hours of the overtime were beyond 40 hours in any one week.Corson's gross earnings for the biweekly pay period are __________.
Answer: \[\begin{array} { l }
\$ 650 \div 64 = \$ 10.16 \\ { [ \$ 650 + ( 14 \times \$ 10.16 ) + ( 3 \times \$ 10.16 \times 1.5 ) ] = \$ 837.96 } \end{array}\]
Q2) Refer to Instruction 2-1.Ides receives 16 cents for every unit produced.Ides produces 2,976 pieces in a 43-hour workweek.For overtime,Ides is paid a sum equal to one-half the regular hourly pay rate multiplied by the number of overtime hours.Ides' total piecework and overtime earnings are __________.
Answer: \[( 2,976 \times \$ 0.16 = \$ 476.16 \div 43 = \$ 11.07 \times 0.5 = \$ 5.54 \times 3 = \$ 16.62 + \$ 476.16 ) = \$ 492.78\]
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Chapter 3: Social Security Taxes
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72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/74508
Sample Questions
Q1) Refer to Instruction 3-1.Eager,a tipped employee,reported to his employer that he had received $320 in tips during March.On the next payday,April 6,he was paid his regular salary of $400. a) The amount of OASDI taxes to wi thhold from Eager's pay is_______
b) The amount of HI taxes to withhold from Eager's pay is___________
Answer: a) \(( \$ 720 \times 6.2 \% ) = \$ 44.64\)
b) \(( \$ 720 \times 1.45 \% ) = \$ 10.44\)
Q2) Refer to Instruction 3-1.Dee is paid $2,345 on November 8,20--.Dee had cumulative gross earnings,including overtime pay,of $125,900 prior to this pay. a) The amount of OASDI taxes to wi thhold from Dee's pay is______
b) The amount of HI taxes to withhold from Dee's pay is________ Answer: a) \((\$ 1,300 \times 6.2 \%)=\$ 80.60\)
b) \((\$ 2,345 \times 1.45 \%)=\$ 34.00\)
Q3) Employers who fail to file employment tax returns are subject to both civil and criminal penalties.
A)True
B)False
Answer: True
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Chapter 4: Income Tax Withholding
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56 Verified Questions
56 Flashcards
Source URL: https://quizplus.com/quiz/74507
Sample Questions
Q1) Which of the following cannot be included in a cafeteria plan?
A) Health insurance
B) Group-term life insurance (first $50,000 of coverage)
C) Dependent care assistance (first $5,000)
D) Self-insured medical reimbursement plan
E) Educational assistance
Q2) Refer to Exhibit 4-1.Carson Smart is paid $1,200 every two weeks plus a taxable lodging allowance of $100.He is a participant in the company 401(k)plan and has $150 deducted from his pay for his contribution to the plan.He is married with two allowances.How much would be deducted from his pay for federal income tax (using the wage-bracket table)?
Q3) The IRA format of the SIMPLE plan allows employees to make tax-free contributions of up to $12,500
A)True
B)False
Q4) In the case of a 401(k)plan,employees age 50 or over can shelter an extra $10,000 of their wages from federal income tax.
A)True
B)False
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Chapter 5: Unemployment Compensation Taxes
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66 Verified Questions
66 Flashcards
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Sample Questions
Q1) Educational assistance payments made to workers to improve skills required of their jobs are nontaxable for unemployment purposes.
A)True
B)False
Q2) On Form 940,even if the total FUTA tax is more than $500,there is no listing of quarterly federal unemployment tax liabilities.
A)True
B)False
Q3) Which of the following types of payments are not taxable wages for federal unemployment tax?
A) Retirement pay
B) Cash prizes and awards for doing outstanding work
C) Dismissal pay
D) Bonuses as remuneration for services
E) Payment under a guaranteed annual wage plan
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______________
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Chapter 6: Analyzing and Journalizing Payroll
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54 Verified Questions
54 Flashcards
Source URL: https://quizplus.com/quiz/74505
Sample Questions
Q1) An employee's marital status and number of withholding allowances never appear on the payroll register.
A)True
B)False
Q2) The total of the net amount paid to employees each payday is credited to either the cash account or the salaries payable account.
A)True
B)False
Q3) If employees must contribute to the state unemployment fund,this deduction should be shown in the payroll tax entry.
A)True
B)False
Q4) Since the FUTA tax is a social security tax,it can be charged to the same expense account as the other payroll taxes on the employer,the payroll taxes account.
A)True
B)False
Q5) Refer to Exhibit 6-1.Journalize the entry to deposit the FICA and FIT taxes.
Q6) Refer to Exhibit 6-1.Journalize the entry to record the payroll.
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