1. By default, what are the items on the Item list sorted by? a. Catalog number b. Rate c. Name d. Unit of measure
2. Which item type should you choose for items such as finance charges or delivery and setup fees? a. Service b. Additional Fee c. Non-Inventory Part d. Other Charge
3. Employer payroll contributions are entered into which type of account? a. Asset b. Expense c. Revenue d. Retained Earnings
4. What happens when the employee year-to-date amounts for statutory deductions reach the legislated annual amount limit? a. The employer is required to turn off automatic deductions b. The deductions are recorded into a separate account and then refunded to the employee c. The program automatically stops deducting those amounts d. The government will send out a reminder to the employer to stop making deductions
5. What is the employer premium amount for Employment Insurance (EI)? a. 1.4 times the employee premium b. An amount matching the employee premium c. 2.2 times the employee premium d. 50% of the employee premium
6. What is the employer contribution amount for Canada Pension Plan (CPP)? a. 1.4 times the employee contribution b. An amount matching the employee contribution c. 2.2 times the employee contribution d. 50% of the employee contribution
7. What type of account is the Employee Advances account? a. Asset b. Liability c. Equity d. Expense
8. Payroll taxes are remitted to the: a. Minister of Finance b. Provincial Revenue Agency c. Receiver General of Canada d. Worker's Compensation Board
9. How can you review a payroll journal entry? a. Use the Previous and Next buttons in the Payroll Entry form b. Select the Adjust Liabilities icon in the Employee Center c. Bring the entry up in the General Journal d. Use the Previous and Next buttons in the Write Cheques form
10. How can you void a paycheque if it was issued with an error? a. Choose Void Pay Cheque from the Edit menu b. Right-click the pay cheque in the Employee Center and select Void c. Click the Void Paycheque icon in the Home window and select the appropriate transaction to void d. Paycheques cannot be voided
11. . How should vacation time be entered for an employee who receives regular hourly pay? a. Type the amount of vacation pay in the Employee Summary b. Click the Vacation button and enter the total amount of vacation pay c. Choose Vacation Hourly Rate and enter the number of vacation hours d. Choose the Vacation Pay icon in the Employee Centre
12. The report prepared for employees who have terminated their employment with the company is the: a. Employee Earnings Summary b. Employee Withholding Report c. Employee TD1 Review List Report d. Record of Employment Report