Q1. One employment data element in the masterfile is:
A.hourly rate of pay
B. marital status
C. birthdate
D. occupation
Correct Answer: A
Q2. An EE who works for more than one ER and has exceeded the social security wage base may:
A.take a credit against FIT on Form 1040
B. demand that the ER refund the overage
C. apply the social security tax to next year's withholdings
D. apply the overage to benefits paid at age 65
Correct Answer: A
Q3. One employment data element in the masterfile is:
A.hourly rate of pay
B. marital status
C. birthdate
D. occupation
Correct Answer: A
Q4. What does it mean if, at the end of an accounting period, a company has a debit balance in a liability account?
A.The company has underdeposited taxes withheld from EE wages.
B. The company has not yet paid the third party.
C. The company has withheld too much from the EE.
D. The company has paid to a third party more than was withheld from the EE.
Correct Answer: D
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