FPC-Remote Dumps PDF - FPC-Remote Real Exam Questions Answers
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NEW QUESTION # 47
All of the following are payroll control procedures EXCEPT:
- A. security
- B. system selection
- C. external audits
- D. edits
Answer: B
NEW QUESTION # 48
Last month, an employee emailed her mother on the company's email, photocopied fliers for her church picnic at work and used her work computer to update her resume. These services represent:
- A. no-additional cost services
- B. de minimis fringes
- C. working condition fringes
- D. taxable compensation
Answer: B
NEW QUESTION # 49
Every month, all of the following records are reconciled EXCEPT:
- A. payroll bank checking account
- B. validity edits
- C. master record of payments
- D. payroll liability accounts
Answer: B
NEW QUESTION # 50
At the beginning of the year, an employee elected to buy group term life insurance as part of his benefit package through his companys cafeteria benefit plan. in may he took out an individual life insurance policy.
since he no longer needs group coverage, he wants to replace the insurance option with increase contributions to his 401k plans. is this possible?
- A. yes, if both GTL and the 401k plan are part of the same cafeteria benefit program, he can switch
- B. yes but he will have to pay taxes on the amount.
- C. no
Answer: C
NEW QUESTION # 51
When using the Optional Flat Rate Method, which of the following items is considered when making the calculation?
- A. filing status
- B. number of dependents
- C. taxable wages
- D. pay frequency
Answer: C
NEW QUESTION # 52
FUTA taxes of more than $500 on wages paid in the first quarter must be deposited no later than:
- A. march 31
- B. april 30
- C. april 15
- D. may 1
Answer: A
NEW QUESTION # 53
A computerized payroll system can help a payroll dept accomplish all of the following tasks except:
- A. producing timely, accurate paychecks
- B. record retention
- C. recognize changes in laws and regulations
- D. compliance w laws and regulations
Answer: C
NEW QUESTION # 54
An employee belongs to a professional organization. when his company pays his dues, the payment is:
- A. de minimis fringes
- B. a working condition fringe
- C. a no-additional cost service
- D. taxable compensation
Answer: B
NEW QUESTION # 55
Under the FLSA, what type of pay is included in a nonexempt employee's regular rate of pay calculation?
- A. discretionary bonuses
- B. production bonuses
- C. paid vacation leave
- D. paid sick leave
Answer: B
NEW QUESTION # 56
a retail sales clerk took advantage of the company's employee discount program to purchase clothes at 10% off the normal retail price. this service represents:
- A. a working condition fringe
- B. a no-additional cost service
- C. a qualified employee discount
- D. taxable compensation
Answer: C
NEW QUESTION # 57
An employee who files an exempt form W4 is exempt from the withholding of:
- A. social security tax only
- B. federal income tax only
- C. all taxes
- D. medicare tax only
Answer: B
NEW QUESTION # 58
The owners of a company want to set up a retirement program for themselves, but do not want to make contributions on behalf of their employees. all of their employees are under age 30. What can they do?
- A. establish a 403b plan for all employees
- B. set up nonqualified deferred compensation plan only
- C. establish only a 401k plan that restricts eligibility to employees over age 30.
- D. establish only a 401k plan that restricts eligibility to employees over age 30, and set up a nonqualified deferred compensation plan.
Answer: B
NEW QUESTION # 59
All of the following deferred compensation plans limit the employee to making a deferral contribution of
$19,500 in 2020 except:
- A. nonqualified
- B. 457b
- C. 401k
- D. 403b
Answer: A
NEW QUESTION # 60
When an employee begins to receive social security benefits, the employer no longer needs to withhold social security and medicare taxes.
- A. TRUE
- B. False
Answer: A
NEW QUESTION # 61
For a payment after the employees death in the year AFTER the death, what taxes, if any, will be withheld?
- A. federal income tax only
- B. social security and medicare taxes only
- C. no taxes will be withheld
- D. federal income and social security and medicare taxes
Answer: C
NEW QUESTION # 62
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