Practice Free FPC-REMOTE Exam Online Questions
An employer contributes $200 per month to an employee cafeteria plan. the pretax medical/dental package that she has chosen costs $250 per month. she contributes the extra $50 for this benefit plan. payroll must withhold:
- A . social security tax and medicare tax from only the employee contribution
- B . social security tax, medicare tax, and federal income tax from only the employee contribution
- C . no tax from either the employee or employer contribution
- D . social security tax and medicare tax from only the employer contribution
One of the options in an employee’s cafeteria benefit plan is a dependent care flexible spending account. He earmarked $100 per month to the account to pay for child care but spend only $1000 by the end of the plans grace period. at the end of the grace period, what happens to the $200 left in the account?
- A . the amount is forfeited
- B . it will be added to his taxable income
- C . he can use it to "buy" ab additional benefit
- D . it ill carry over to the next year
Which of the following events would require an employee to fill out an amended form w4 within 10 days of its occurrence?
- A . employee becomes legally separated from his or her spouse who was claimed as a dependent
- B . employees spouse quits job to stay home with a new baby
- C . death of a spouse
- D . adoption of a kid
An employee earns $40,000 annually. claiming single with no entries on lines 2,3, or 4 on her 2020 form W4, she contributes $6,000 annually to her 401k.
How much must be withheld for federal income tax, social security, and or medicare tax on contribution?
- A . $0
- B . $459
- C . $918
- D . $1,779
In which type of account (asset, liability, expense or revenue) would each of the following entries appear?
- A . a new payroll computer
- B . purchase of computer paper
- C . money in a payroll checking account
- D . wages paid to employees
- E . ss tax and medicare tax withheld but not deposited
- F . employer cost of group term life insurance
- G . office furnitue
- H . deposit of employer portion of social security tax and medicare tax
- I . mortgage on the addition to your building
You receive a letter of inquiry concerning an employee.
What should you do?
- A . follow your companys policy on the release of employee info
- B . ignore the letter becuase its the employees issue
- C . send a short letter to the agency stating that the issue is being reviewed.
- D . call the requested and tell them you plan to locate the info and send it in a few months.
Checking inputs or outputs against predetermined constraints is called:
- A . internal control
- B . validity edit
- C . system safeguard
- D . parallel test
All of the following are supplemental wages EXCEPT:
- A . salary
- B . bonus
- C . commission
- D . fringe benefits
If you need very rapid response time with minimal lag between input and output into your computer system, look for:
- A . batch processing
- B . remote entry processing
- C . real time processing
- D . network processing
For a payment after the employee’s death in the year of the death, what taxes, if any, will be withheld?
- A . federal income tax only
- B . social security and medicare taxes only
- C . both federal income and social security and medicare taxes
- D . no taxes will be withheld