Questions: PF2

30 - The source deductions relating to an employees taxable benefits are calculated and remitted:

• quarterly when the Canada Revenue Agency accounts are reconciled
• at year-end when the Canada Revenue Agency accounts are reconciled
• when a Pensionable and insurable Earnings Review is conducted
• on a pay period basis

31 - Which financial statement is used to reflect revenue, expenses and net profit or loss of an organization during a specified period of time?

• General Ledger
• Income Statement
• Shareholders' Equity Statement
• Balance Sheet

32 - Marie-Claire has semi-monthly Vacationable ea1rnings of :$2,150.00 and her vacation pay rate is 6%. What amount will be recorded to vacation pay expense

for the month of March?

• A debit of $129.00
• A credit of $129.00
• A debit of $258.00
• A credit of$258.00

33 - The Canada Revenue Agency requires mandatory electronic filing when employers file a total of more than:

• 25 of each type of information slips
• 25 various information slips
• 50 of each type of information slips
• 50 various information slips

34 - In which province is tile group benefits premium subject to the Retail Sales Tax?

• Manitoba
• Nova Scotia
• Northwest Territories
• British Columbia

35 - The salaries and wages incurred for employees who actually perform the work or provide the service or sell goods, are referred to as:

• direct labour costs
• indirect labour costs
• employee benefits expenses
• commission expenses

36 - Which of the following items appears on a Balance Sheet?

• Net Profit
• Expenses
• Revenue
• Liabilities

37 - If the administration of the pension plan contribution remittance is outsourced to a third-party plan administrator, who is responsible for making sure the remittance deadlines are being met under the requirements of the legislation in each pl.an member's jurisdiction?

• The employer
• The provincial, government
• The payroll service provider
• The plan administrator

38 - Which financial statement is used to reflect revenue, expenses and net profit or loss of an organization during a specified period of time?

• General Ledger
• Income Statement
• Shareholders' Equity Statement
• Balance Sheet

Marie-Cllaire has semi-monthly Vacationable ea1rnings of $2,1 S0.00 and her vacation pay rate is 6%. What amount will be recorded to vacation pay expense

for the month of March?

• A debit of $129.00
• A credit of $129.00
• A debit of $258.00
• A credit of $258.00