Payroll MCQs

In the General Journal, which side would your payroll tax expense be located?

What forms are filed at the end of the year to report employee wages to IRS?

What tax document is provided at the end of the year to independent contractors and includes all payments paid?

Which employee tax elected filing status will deduct the highest withholding amount?

What requirements does the FLSA have for records keeping?

Who decides if a person is an employee or an independent contractor?

How often should payroll be reconciled?

What is the purpose of an EIN?

According to the Self-Employment Contributions Act, any enterprise ___________________ is considered a business.

Which of the following is a benefit of an automated payroll system?