mcgraw hill 3/4

Using the lease-value rule, if the number of days a company vehicle is available during the year is 260, the prorated annual lease percentage is _____ (round your answer to two decimal places).

71.23

If the total number of miles driven during the year is 25,000 and personal use miles is 30 percent, the number of miles for commuting purposes using the cents-per-mile rule is

7500

Piece-rate pay may only be used for employees involved in the _________ part of a business.

manufacturing

Select all the provisions of the Families First Coronavirus Act that directly affected employees. Multiple select question. Expanded unemployment benefits Paid leave capped at 5 days for employees who contracted the virus. Federal emergency paid leave benefits program to provide payments to employees taking unpaid leave.

Expanded unemployment benefits Federal emergency paid leave benefits program to provide payments to employees taking unpaid leave.

Business use of a company car is considered to be a: Multiple choice question. Taxable fringe benefit because it specifically benefits the employee Nontaxable fringe benefit because it specifically benefits the company Taxable fringe benefit because it specifically benefits the company Nontaxable fringe benefit because it specifically benefits the employee

Nontaxable fringe benefit because it specifically benefits the company

What are examples of a nontaxable snack or meal (select all that apply)? Multiple select question. Pizza served every Friday Occasional cup of coffee Food at a holiday party

Occasional cup of coffee Food at a holiday party

In a defined benefit plan, the employee would have which of the following? Multiple choice question. Percentage of their wages post-employment Percentage of their pay deposited into an 401(k) Percentage of their pay deposited into an IRA SIMPLE plan by employer

Percentage of their wages post-employment

Which of the following are true about garnishments? Multiple select question. Consumer loans: 25% of all earnings in excess of federal minimum wage weekly earnings Student loans: 15% of disposable income in excess of federal minimum wage weekly earnings. Personal bankruptcy: The lower of 25% or 30 times the earnings in excess of federal minimum wage weekly earnings

Student loans: 15% of disposable income in excess of federal minimum wage weekly earnings. Personal bankruptcy: The lower of 25% or 30 times the earnings in excess of federal minimum wage weekly earnings

A report provided to employees which details the monetary value of benefits is called the Multiple choice question. compensation benefit report total benefit report total compensation report employee benefit report

c

Fringe benefits related to employer provided vehicles, mileage, leasing and commuting will _____ employee pay. Multiple choice question. not affect decrease increase

c

The Bureau of Labor Statistics has found that fringe benefits comprise what percent of employee compensation? Multiple choice question. 10-18% 19-27% 25-33% 29-43%

c

Under the unsafe conditions rule, the charge to the employee is _______ per use. Multiple choice question. $2.00 $1.75 $1.50 $1.25

c

Voluntary fringe benefits are deducted either before or after: Multiple choice question. Voluntary deductions Mandated deductions Mandatory deductions

c

Which of the following is NOT a hallmark of a fringe benefit? Multiple choice question. Fringe benefits are not linked to employee performance. Employee living conditions are improved because of the fringe benefit Fringe benefits are only deducted on a post-tax basis

c

On-site athletic facilities which are restricted to use by employees only is considered a: Multiple choice question. Taxable benefit Cost-to-employee benefit Taxable benefit for income taxes only Nontaxable benefit

d

The IRS requires that all fringe benefits which involve a deduction from the employee pay must be listed on the employee's: Multiple choice question. federal tax form W-2 state tax form pay advice

d

The employer must treat all benefits as though it was paid on a _____ basis. Multiple choice question. weekly per-pay-period monthly annual

d

The maximum percentage of _____ income for child support or alimony is _____ percent if the employee is supporting another spouse or child.

disposable, 50

Union dues are used, in part, to conduct negotiations between _____and_____

employee and employer

Many job types have a combination pay method because it boosts ___________ ________and maintains _________ ____________

employee productivity, FLSA compliance

The importance of fringe benefits can be measured in terms of _____ _____and long-term increases in revenue and net income

employee satisfaction

The purpose of an ISO is to defer taxes and salary liabilities for the _________and ______.

employer and employee

True or false: All amounts pertaining to voluntary benefits, regardless of when the benefit is made available, must be withheld when the benefit is made available to the employee.

f

True or false: If child support is >6 weeks in arrears, an additional 5% may be added to the garnishment.

f

The general valuation rules uses _____ _____ _____to determine the value of a benefit.

fair market value

Retired employees who receive pension payments are subject to

federal income tax

Unless specifically designated by a , ______ ______ private sector employers may not offer compensatory time.

firms policies

During jury duty, some employers pay the employee ______ compensation, while others pay a(n) ______ amount.

full, predetermined

Put the list in the correct processing order

gross pay pre tax federal withholding post tax

The Affordable Care Act mandated that health coverage for individuals Multiple select question. have "minimum essential coverage." have access to any kind of insurance plan available. is an option for employees on a pre-tax basis.

have "minimum essential coverage." is an option for employees on a pre-tax basis.

A high-deductible health plan (HDHP) has an annual deductible of $ ______for self-coverage and $ ______ for family coverage.

1400, 2800

If an employee has a daily commute of 50 miles and works 300 days a year, the number of commute miles driven during the year using the commuting rule is .

15000

If the cash value of prizes and awards exceeds $_____ annually, the excess is subject to tax.

1600

For the hundredth hour method, you divide the number of minutes worked by

60

What should be obtained from an employee who requests a draw?

A written, signed authorization specifying repayment terms

Which of the following affect payroll computation when a salaried employee decides to take unpaid leave?

Amount of time taken Number of regular hours in the pay period

What causes variations in commission based pay?

Employer policy Client status Employee seniority

What are the employer's responsibilities regarding piece-rate work?

Payment of at least the minimum wage Accurate tracking of work hours

What is true about on-call time at the employer's premises?

The employee's freedom is limited The number of on-call hours must be added to the employee's gross pay

Which of the following are true about FLSA provisions for piece-rate workers?

The employer must establish a standard number of items that may reasonably be completed Most piece-rate employees are subject to minimum wage, overtime, and break provisions

Which of the following is a fringe benefit exempt from Income tax, FICA tax, and FUTA tax? Multiple choice question. Education assistance in excess of $5,250 annually moving expense reimbursements health savings accounts

health savings accounts

Overtime pay for piece-rate employees is based on the number of _______and the total number of productive ______worked.

pieces, hours

Amounts deducted from employee pay after income taxes and FICA taxes have been withheld are called _____ _____ deductions.

post tax

Any check issued for a deceased employee's pay must be made payable to

the employee the employee's estate

to ensure the accuracy of the payroll register, the accountant ______, ______, and ______the register.

totals, proves and rules

Which of the following are considered other transportation benefits, according to the IRS (select all that apply)? Multiple select question. Commuter passes Access to commuter vehicles Car-sharing services (Zipcar, etc.) Parking subsidies

Commuter passes Parking subsidies

An employee's pay advice will include all of the following information except? Multiple choice question. regular earnings taxable fringe benefits employee number non-taxable fringe benefits employee address

D

What is the purpose of adding payroll register columns such as commissions, number of holiday hours, and number of overtime hours?

It allows for future analysis of payroll costs.

Supplemental health and disability coverage would be considered pre-tax when which of the following are met (select all that apply)? Multiple select question. Meets Ruling 2004-55 requirements Meets code 104(a)(4) requirements Meets code 104(a)(3) Meets Ruling 2005-44

Meets Ruling 2004-55 requirements Meets code 104(a)(3)

Which of the following is true about HSAs? Multiple choice question. Funds may be reserved for medical care later in life Amounts withdrawn for nonmedical expenses is tax free All HSAs are exempt from income and FICA taxes

a

Which type of account may be set up with a trustee if an employer does not offer it? Multiple select question. HSA HDHP FSA

a

Fringe benefits are considered: Multiple choice question. an optional part of the company's financial structure a costs where the benefits do not outweigh the costs a necessary part of the company's financial structure a benefit to the employer

c

The maximum garnishment for an employee is determined on Multiple choice question. type of income taxes. post-tax income. disposable income. gross income.

c

The most common way to value fringe benefits is the Multiple choice question. market value rule fair market value rule general valuation rule valuation rule

c

The purpose of a flexible spending arrangement is to Multiple choice question. Shift the tax burden to the employer Allow employees to avoid paying taxes Reduce the financial burden of health care costs

c

The _____ rule is used for employees who are forbidden from using the vehicle outside of work hours for personal use.

commuting

ISOs allow employees to receive a small base salary and for their compensation.

company stock

The _____ _____ _____Act delineates the percentage of disposable earnings that may be withheld for garnishments.

consumer credit protection

A FSA can be used to pay for Multiple select question. Medicare taxes. copayments. prescriptions. long-term care costs.

copayments. prescriptions.

When an employee works on multiple items where different piece-rates exist, the rates for each ________ _ piece must be computed.

different

A benefit that allows employees to set aside money for medical expenses, transportation, and certain child care expenses is a _____ _____ arrangement.

flexible spending

The cash value of all _____ _____ given by an employer must be included as annual compensation on the employee's W-2.

gift cards

Employees whose positions are ____________ ____________or ________________ _____________ may find their job classified as salaried.

highly techincal qualification driven

The standard number of weekly hours for salaried nonexempt employees depends on the

hiring agreement

An _______ ______ ______is a payroll option that allows an employee to report a small base salary for tax purposes.

incentive stock option

Pre-tax deductions reduce the amount that an employee will pay for Multiple choice question. federal unemployment taxes. voluntary deductions. income taxes. mandatory deductions.

income taxes

Three primary methods are used for determining the value of the personal use of a company car including: Multiple select question. dollar-per-mile rule lease value rule commuting rule cents-per-mile rule lease rule

lease value rule commuting rule cents-per-mile rule

When an employer provides food on an occasionalBlank 1Blank 1 occasional , Correct Unavailable basis, it is considered a de minimis benefit.

occasional

The unsafe conditions rule applies to employees who normally walk, bicycle, or use _____ transportation under normal conditions.

public

Post-tax deductions Multiple choice question. increase employee net pay. reduce employee tax liability. reduce employee net pay. increase employee tax liability.

reduce employee net pay.

The two categories of hourly wages are ________ and _______.

regular overtime

The employer and salaried nonexempt employee must agree on the ________ _________of hours worked per pay period.

standard number

In some states, sales employees may receive commissions, even after

termination

The calculation of gross pay for salaried employees depends on

the firm's choice of pay periods.

The special accounting rule defined by the IRS for noncash benefits applies to only the last _____ _____ of the calendar year.

two months

Employers may exclude up to $______ from employee wages for other transportation benefits. Multiple choice question. 150 265 260 270

270

What percentage of an employee's pay is customary for a payroll draw?

30-40

What is the standard work week for salaried nonexempt workers?

Depends on the hiring agreement

According to the lease-value rule, the annual amount of the lease is multiplied by the percentage of _____ use of the vehicle. Multiple choice question. business minus personal personal plus business business personal

d

Contributions to an _____must be used within a specific time period, and _____ contributions may be set aside for future use.

fsa, hsa

The term fringe benefits applies to _____ compensation

noncash

Business use of a company vehicle is _____ because it benefits the company.

nontaxable

When an employee works more than one job classification, the payroll accountant is notified to ensure accurate ________, __________, and _______

pay, classification, reporting

Who is responsible for rounding employee time consistently?

payroll acc

The employee compensation information is found in the

payroll reg

A type of cafeteria plan that allows employees to deduct premiums for employer-sponsored group insurance on a pre-tax basis is called: Multiple choice question. Health only insurance plan Employer benefit plan Premium only plan Health insurance plan

pop

In a payroll register, each employee has a _____ _____

separate row

The employer should estimate the amount of the benefit transmitted on a _____date, ______taxes, and ______any other monies as necessary.

specific, remit, transmit

The difference between the tipped employee minimum wage and the federal minimum wage is known as the __________ _______

tip credit

Among sales consultants, _________ _______ _______are excluded from minimum wage requirements under the Fair Labor Standards Act.

outsidesales representatives

The process to compute the hourly rate for a piece-rate worker is:

record multiply divide

Section 125 of the Internal Revenue Code was enacted in what year?

1978

Which of the following fringe benefits are subject to income, FICA, and FUTA taxes (select all that apply)? Multiple select question. Adoption assistance Retirement planning services Education assistance Dependent care assistance

2,3,4

Under the 8 and 80 rule, what is the number of consecutive workdays considered?

14

In which of the following situations would hourly wage calculations be appropriate?

A nonexempt employee who works 75 hours during a biweekly pay period. A nonexempt salaried worker who works more than 40 hours during a weekly period.

Which of the following is true about salaried nonexempt employees?

If the salaried nonexempt employee works fewer than the agreed-upon hours, their pay may be reduced. The employee and employer must agree upon the standard number of hours worked per week.

In which of the following situations may an employee receive less than the FLSA minimum wage?

Student learners in vocational education programs. An employee below age 20 during the first 90 days of employment.

To determine the value of an employee's use of a company asset, what are factors that the IRS considers (select all that apply)? Multiple select question. amount of the asset used age of the asset fair market value employee time with the company

amount of the asset used age of the asset fair market value

A best practice is to document the _____involved in _____ deductions in writing.

amounts, voluntary

Benefits plans should be reviewed _____to ensure accuracy and legal compliance.

annually

A type of cafeteria plan which assists in the payment of medical expenses is called a: Multiple choice question. Co-payment spending arrangement Premium only arrangement Flexible spending arrangement Health care cost arrangement

c

Any amount awarded to an employee from an employer using gift cards must be reported on Form Multiple choice question. 1099 W-4 W-2

c

In a payroll draw situation, the employee may draw _______ against ________ ______ .

salary against future commissions

A Section 125 Cafeteria plan permits employers to offer employees a choice between which types of benefits? Multiple select question. Relocation reimbursement Qualified benefits Cash

cd

The method of valuing personal use of a company vehicle that uses the standard IRS mileage rate is the_____ _____ _____ rule.

cents per mile

An employer with a disabled employee must obtain a ________to pay _______than the minimum wage.

certificate less

Computation of the pay for fractions of hours worked depends on

company policy

Taxes are also known as _____ deductions

mandatory

Depositing taxes for noncash fringe benefits will occasionally require an _____ of the taxes due

estimate

Gym membership discounts are a fringe benefit that promotes employee

wellness

Employers must treat benefit withholdings as paid annually to guarantee that taxable benefits are reported correctly on employee _____ .

w2

For employees who work in more than one separate function within a company, the payroll accountant should refer to the _________overtime calculator advisor published by the U.S. Department of Labor.

FLSA

The value of excluded fringe benefits that are not a part of a cafeteria plan are exempt from all of the following: Multiple select question. FUTA taxes State income taxes FICA taxes Federal income taxes SUTA taxes

FUTA taxes FICA taxes Federal income taxes

The minimum amount of cash or cash equivalent gift cards an employee may receive that would be excluded under de minimis fringe benefits is: Multiple choice question. $100 gift card No minimum amount $100 cash $100 cash or gift card

no min

If an employer occasionally provides food or beverage as an employee perk, the cash value is considered a de minimis benefit and is Multiple choice question. taxable for federal income tax purposes taxable for both FICA and federal income tax purposes not taxable taxable for FICA purposes

non=t tax

True or false: The advantages of providing fringe benefits far outweighs the costs.

true

According to the IRS, wages earned prior to the employee's death must accurately reflect all ______ ______

work performed

The payroll register contains which of the following?

A separate row for each employee.

Which are some of the most common benefits errors? Multiple select question. Benefits claimed correctly Errors in employee vesting Incorrectly defined compensation Incorrect use of hardship distributions

Errors in employee vesting Incorrectly defined compensation Incorrect use of hardship distributions

Benefit reports are shown on the following documents: Multiple select question. W-4 form Benefit compensation report Total compensation report W-2 form

Total compensation report W-2 form

What is the average percentage range for fringe benefits as a portion of an employee's salary? Multiple choice question. 25-33% 34-50% 18-24%

a

The payroll register is used by accountants to ensure the ________ ______of employee compensation.

accurate tracking

Which of the following would be considered a de minimis benefit? Multiple choice question. Health savings accounts Occasional cups of coffee Group term life insurance Adoption assistance

b

Employees in highly technical or qualification-driven positions are generally classified as __________ from FLSA provisions.

exempt

All gift cards awarded to an employee by an employer are considered de minimis. True false question. True False

f

Nonqualified deferred compensation is taxed

like any other compensation

Employers may not ________ a salaried worker's pay when they work ______ hours than agreed.

prorate, Fewer

The IRS designation of _____ health insurance plans reflects the necessity of medical care.

qualified

Which specific class of employees may receive an hourly wage that is less than the FLSA minimum wage?

Employees younger than the age of 20 in the first 90 days of employment

The cash value limit on achievement awards in accordance with a qualified plan is: Multiple choice question. $1,600 annually $1,600 monthly

annually

Under what condition(s) would a gym membership fringe benefit be taxable (select all that apply)? Multiple select question. When the on-site gym is open to employees and the general public. When the gym is available to employees only on the employer's premises. When the employer provides membership to an off-site club at no additional cost to the employee.

a,c

FSA plans have a maximum annual amount that an employee may contribute to an FSA of _____ per person. Multiple choice question. $275 $2,750 $2,700 Unlimited

b

The value of excluded fringe benefits does NOT constitute what part of employee pay? Multiple choice question. tax-exempt taxable

b

What are the HSA contribution limits for single/married employees? Multiple choice question. $3,750/$7,500 $3,550/$7,100 $3,000/$6,000

b

What is the average percentage range for fringe benefits as a portion of an employee's salary? Multiple choice question. 18-24% 25-33% 34-50%

b

The two basic types of retirement plans are defined _______and defined _____ .

benefit, contribution

Contributions to _____ organizations are withheld from employee pay on a ______ tax basis

charitable, post

In the case of retroactive pay, the Secretary of Labor may sue the employer for back pay plus an equal amount of __________

damages

A small dollar value fringe benefit that the employer provides but does not need to account for is called a(n) _____ _____benefit.

de minimis

What is the definition of a combination pay method?

An employee may be compensated using more than one pay basis.

Which columns must be present in every payroll register?

Employee name Gross pay Marital status

Which of the following are reasons for tracking employee commissions?

Employee performance Job order tracking Compensation accuracy

Which of the following is true about employee draw?

Employees are expected to generate enough sales to cover draws. The employee may draw against future earnings (which will be reduced) if sales goals are not met.

Outside sales representatives are subject to FLSA minimum wage provisions

FALSE

Which of the following are examples of combination pay methods?

Hourly plus piece-rate Salary plus commission

The payroll register is:

a tool to accurately prepare payroll

An employee with a _______ pay method may perform two or more different jobs for the same employer with different _______ bases.

combination, compensation

The minimum salaried wage applies to salaried nonexempt employees whose wages

do not exceed $684 per week.

Pension payments are subject to _______ ______tax but not _______ tax.

federal income, fica

When a salaried employee takes unpaid leave, the amount of salary associated with the unpaid time must be deducted from the _____________ ___________

gross pay

Non-exempt employee pay is based on the _________of _______worked.

number of hours

Annual salary Annual salary Drop zone denominator incorrect Toggle Button Unavailable. denominator Number of weeks per year

numerator

The hundredth-hour system is similar to the quarter-hour system because it calculates __________ hours of work performed.

partial

FLSA uses the Eight and Eighty (8 and 80) rule for overtime pay for which of the following classifications of workers?

residential care facility workers hospital workers

What is an important consideration regarding the minimum wage provision of the Fair Labor Standards Act?

seperate teirs

Piece-rate workers must have a ________ ______of items that may be reasonably completed each day, including breaks and rest periods.

standard number

True or false: If an employee receives full compensation during jury duty, the employee may be required to return the jury duty pay.

true

If the employee is not restricted to performing on-call time on the employer's premises, which of the following is true?

Compensation is not required

Which of the following are potential issues with payroll draws?

Correct amounts of payroll taxes may not be collected. The draw may affect legal salary deductions like garnishments

Computation of piece-rate pay involves

Counting the pieces completed. Locating the rate earned per unit. Multiplying the number of pieces completed by the rate per unit.

Travel time

For employees who drive or commute at the employer's convenience

According to the FLSA, which of the following is true about compensatory time?

Salaried exempt workers must receive comp time equal to 1.5 times the overtime hours.

What are purposes of the salary plus commission pay method? (Check all that apply).

To recognize employee contribution to sales To meet minimum wage requirements

Which of the following is true about travel time?

Travel to and from a single office is not compensable

Hourly workers are paid for any _______ or ________ of an hour that they work.

hours or fraction

Which type of sales representative is sometimes covered by the Fair Labor Standards Act's minimum wage provisions?

inside sales

The U. S. Department of______ established the minimum salaried wage as one of the tests of ________from FLSA provisions.

labor, exemption

Nonqualified deferred compensation refers to pay earned in one period and received in a _______ _______

later period

Wait time

matches Choice, Staying at a site for a defined time for the employer's benefit Staying at a site for a defined time for the employer's benefit

Commission based pay is subject to the FLSA _________ __________ provisions of the Fair Labor Standards Act if the employee is classified as nonexempt.

minimum wage

Piece-rate workers must be paid no less than the ______ _______ for their location.

minimum wage

Specific classes of employees may receive an hourly wage less than the _____ _____

minimum wage

On-call time refers to situations in which an employee must be available for work outside of ____ ____ ____

normal working hours

Some employers will compensate employees by rounding to the nearest 15 minute interval, which is called the _______ _____ _____

quarter hour system

Incentive Stock Options (ISOs) allow employees to:

receive company stock for work performed report a small base salary for tax purposes

Situations exist in which nonexempt employees must be compensated at more than the ______ ______premium.

standard overtime

Commission-based pay is appropriate when the employee is not involved in manufacturing a product or providing a service.

true

True or false: Employers should notify employees in advance if the employee's tip earnings will be included in their overtime pay calculation.

true

An employee must be paid different rates when working in how many separate functions?

two

Companies may offer salaried workers which of the following for missed workdays:

unpaid leave

Nonexempt employees who work more than the FLSA maximum hours per week must be compensated at a rate of _____ times the regular hourly rate.

1.5

Under the lease-value rule, if the prorated annual lease is $5,500, percent of personal use during the year is 18.18 percent, personal annual lease value is $1,000 and the value of employer provided fuel is $250, the total personal use taxable income is $

1250

Under the lease-value rule, the annual lease amount is determined by reviewing the information in Multiple choice question. Publication 15-a Publication 15-c Publication 15-b Publication 15-d

15-b

Assume that the total number of commuting miles driven for the year equals 10,000, the value of the fringe benefit using the commuting rule is $

15000

If an employee who worked a 40-hour workweek earned $42,000 per year, what is the hourly rate for the employee?

20.19

The Affordable Care Act provided coverage for children until

26

If an employee has driven 5,000 personal miles, the value of the company vehicle using the cents-per-mile rule is $

2875

To compute hundredth-hour work, divide the number of minutes by

60

Employer contributions to HSA's are tax exempt for each of the following: Multiple select question. Federal income taxes FICA taxes State income taxes SUTA taxes

Federal income taxes FICA taxes

The commuting rule applies to employees who are forbidden from using the company vehicle (select all that apply): Multiple select question. Commuting to/from work For personal purposes Outside of work hours

For personal purposes Outside of work hours

Examples of qualified insurance benefits include which of the following (select all that apply)? Multiple select question. Tuition benefits Health savings accounts Adoption benefits Accident benefits

Health savings accounts Accident benefits

True or false: Employers may make tax-exempt contributions to employee HSAs as long as they are part of the company's Section 125 cafeteria plan True false question. True False

t

True or false: HSAs may only be used in conjunction with a cafeteria plan for employees with high deductible health plans. True false question. True False

t

To determine a salaried employee's hourly rate, divide the total Blank 1Blank 1 yearly , Incorrect Unavailable salary by the total hoursBlank 2Blank 2 hours , Correct Unavailable worked per year.

tatal. hours

Legislative treatment of fringe benefits involves certain mandatory _____ _____from employee pay.

tax deductions

If the wages for a deceased employee are paid in a check, it must be made to out to

the employee's estate

IRS guidelines stipulate that ______ ______ prior to the employee's death must accurately reflect the work performed.

wages earned

Which of the following are characteristics of providing fringe benefits to employees? Select all that apply. Multiple select question. Employees enjoy improved living conditions. Fringe benefits supplement employee's cash compensation. Fringe benefits promote the welfare of select employees. Fringe benefits are not related to employee performance. Select employees have access to fringe benefits.

Employees enjoy improved living conditions. Fringe benefits supplement employee's cash compensation. Fringe benefits are not related to employee performance.

What are the two elements that must be present for employer-provided refreshments to become taxable for the employee? Multiple select question. Employees must pay to partake in the food. It is provided occasionally. Employees receive food at no additional charge. It is provided routinely.

Employees receive food at no additional charge. It is provided routinely.

Which of the following are guidelines used by the IRS to determine if a health insurance plan qualifies for pre-tax status (select all that apply)? Multiple select question. COBRA health coverage An employer's self-insurance plan Plans only for highly compensated employees Retiree health plans

COBRA health coverage An employer's self-insurance plan Retiree health plans

Sleep time

Choice, Required time for an employee who works 24-hour shifts Required time for an employee who works 24-hour shifts

Taxable fringe benefits, which increase employee pay, are valued at a(n): Multiple choice question. third length transaction. non-taxable transaction. second party transaction. arm's length transaction

D

Which of the following is true about an ISO?

It is a pay method that allows employee to receive company stock in lieu of salary.

Which of the following is true of piece-rate pay?

It is more difficult to track and to administer than other types of pay. It encourages employee production.

According to the FLSA, what are methods for receiving retroactive pay (select all that apply)?

The employee may sue the employer for the back pay plus damages, court costs, and lawyer's fees. The Department of Labor's Wage and Hour Division may provide supervision for the payment.

Employees whose noncash fringe benefits are deferred in accordance with the special accounting rule will experience which of the following tax effects: Multiple choice question. Higher during the following calendar year No difference in taxes Higher during the current calendar year

a

Flow-through supplemental health and disability programs are paid for by Multiple choice question. employee. shared costs. employer. government grant.

a

Which IRS publication contains details about fringe benefit tax treatment? Multiple choice question. Publication 15-b Publication 15 Publication 15-a Publication 15-c

a

Employers may consider the amount earned in tips by employees when computing _____ pay.

overtime

According to the Families First Coronavirus Act, employers were required to provide _____ _____ leave to employees who contracted the virus.

paid sick

All fringe benefit deductions must be listed on the employee _____ _____.

pay advice

In a business with a union presence that requires regular union dues, these dues must be deducted from employees on a __________ basis.

post tax

A cafeteria plan that allows for premium deductions on a pre-tax basis is called a _____only plan.

premium

Charitable contributions are Multiple select question. reported on the employer's taxes. reported on the employee's itemized tax return. deducted pre-tax. deducted post-tax.

reported on the employee's itemized tax return. deducted post-tax.

Court ordered garnishments can be for Multiple select question. student loans. alimony. union dues. child support.

student loans. alimony. child support.

When allowing an employee to do a payroll draw, a ________and ________ authorization must be obtained from the employee.

written and signed