Payroll Accounting

Chapter 1 Quiz 1. Which of the following laws has as one of its major provisions the establishment of the minimum wage? a. Fair Employment Laws b. Federal Unemployment Tax Act c. Federal Insurance Contributions Act d. Social Security Law e. Fair Labor Standards Act 2. Which of the following acts covers employee pension and welfare plans? f. Age Discrimination in Employment Act g. Employee Retirement Income Security Act h. Family and Medical Leave Act i. Federal Insurance Contributions Act j. Federal Unemployment Tax Act 3.

Which of the following statements is not a provision of ERISA? k. ERISA requires each employer to establish a pension plan l. All of these choices are provisions of ERISA m. ERISA provides that all employees are eligible to set up their own individual retirement accounts n. ERISA establishes minimum vesting schedules that protect the worker’s benefits o. ERISA applies to pension and welfare plans established by any employer engaged in commerce. 4. Which of the following is not a provision of the Fair Labor Standards Act (FLSA)? . Restricts the employment of child labor q. Forbids discrimination in hiring r. Mandates equal pay for equal work, regardless of sex s. Sets up minimum wage t. All are provision of the FLSA 5. Which of the following bases for discrimination in employment practices is not covered in Title VII of the civil Rights Act of 1964 as amended? u. Color v. National origin w. Age x. Religion y. Sex 6. Medicare is a two=part health insurance program that was part of an amendment to what act? z. Federal Insurance Contributions Act . Federal Unemployment Tax Act |. Federal Income Tax Withholding Law }. Age Discrimination in Employment Act ~. Fair Labor Standards Act 7. Which of the following act deals with the minimum wage paid to laborers for contractors who supply materials to any agency of the United States? . Walsh-Healey Public Contracts . Davis-Bacon . NcNamara-O’Hara Service Contract . None of these choices are correct . Federal Insurance Contributions 8. Which of the following is used to complete each employee’s Form W-2, Wage and Tax Statement? Change in payroll rate form . Employee’s individual retirement account . Payroll register . Employee’s earning record . Employee’s paycheck 9. Which of the following items does not always appear on both the payroll register and the employee’s earnings record in the weekly payroll recording? . Net amount of the paycheck . Cumulative earnings . Gross weekly pay . Federal income tax deducted . All of these choices appear on both records 10. The employee’s earnings record is a listing of a firm’s complete payroll for each pay periods. . True . False

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