Ferg CCHS Accounting EOPA Practice 1

One of your co-workers has been sharing confidential information with others outside the company. If you are unsure of the company rules relating to this, you should:

• refer to the company policy manual

• contact the company personnel manager to report the employee who made the mistake

• ask co-workers for an interpretation of how to handle the situation

• write a letter to your supervisor so that you will be cleared of any responsibility

Which of the following reports assets, liabilities and owner's equity on a specific date?

• Balance sheet

• Comparative financial statement

• Income Statement

• Worksheet

If the supervisor on duty gives you a task you do not understand, you should:

• ask your supervisor for further clarification

• get a co-worker who is more experienced to complete the task

• tell your supervisor you do not know how to do it and ask him to assign a co-worker to the task

• try to figure it out on your own

What general communication skills are most employers looking for in their employees?

• Effective speaking, listening, reading and writing skills

• Public speaking skills

• Ability to make presentations using PowerPoint or Slides

• Basic math and writing skills

upon being hired, your employer will have you complete Forms I-4 and K-4. These forms will assist you employer in being able to:

• calculate the amount of your state and federal tax for each payroll period.

• calculate your Medicare deduction amount for each payroll period

• calculate your Social Security deduction amount for each payroll period

• calculate your gross pay

Which of the following subjects is illegal for a potential employer to ask during the hiring process?

• If you have a disability

• Availability to work nights or weekends

• Work experience

• Education level

After you read an office memo that is confidential, you should:

• not discuss it with anyone

• discuss it with your family to determine how it impacts you

• discuss it only with your friends and co-workers

• pretend you never saw it

When preparing financial statements, you notice that the component percentage for gross profit on sales is 32.7%. Out of the following choices, which is the best interpretation?

• Out of every dollar of sales, 32.7% is gross profit.

• The business is not making much profit

• Out of every dollar of sales, 32.7% is shared with stockholders in the form of dividends

• Out of every dollar of sales, 32.7% is net profit.

Which of the following is not considered an important skill for the workplace?

• Ability to work independently and never work with anyone.

• Ability to work in teams

• Working well with people from diverse backgrounds

• Providing excellent customer service

You are employed earning $9.50 per hour and during one week you worked 35 hours and the second week you worked 32 hours. Upon being hired, you wrote EXEMPT on your I-4 and K-4, the FICA rate is 7.65%, you have$25 per pay period put into a mutual fund for retirement and pay $4.00 per pay period for union dues. What is your GROSS PAY and you NET PAY for this pay period?

• $636.50 Gross and $558.81 Net

• $636.50 Gross and $602.63 Net

• $636.50 Gross and $583.81 Net

• $636.50 Gross and $554.81 Net