Accounting II - Chapter 13

Accounting II - Chapter 13

Assessment

Flashcard

Specialty

9th - 12th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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24 questions

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1.

FLASHCARD QUESTION

Front

In each pay period, the payroll information for each employee is recorded on his or her employee earnings record.

Back

True

2.

FLASHCARD QUESTION

Front

The payroll register provides all the payroll information needed to prepare a payroll.

Back

False

3.

FLASHCARD QUESTION

Front

A business deposits the total of gross wages in a separate payroll checking account.

Back

False

4.

FLASHCARD QUESTION

Front

Are employer payroll taxes business expenses?

Back

True

5.

FLASHCARD QUESTION

Front

The employer social security tax rate is different than the employee social security tax rate.

Back

False

6.

FLASHCARD QUESTION

Front

Federal unemployment insurance laws require that employers and employees pay taxes for unemployment compensation.

Back

False

7.

FLASHCARD QUESTION

Front

The transaction to record employer payroll taxes expense is journalized at the end of the quarter.

Back

False

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