Question
TRUE or FALSE 17 Items. Can you help me please, I need correct answers to these questions so that I can pass my exams. Thank
TRUE or FALSE 17 Items. Can you help me please, I need correct answers to these questions so that I can pass my exams. Thank you.
1. The employer portion of E.I. and CPP is deducted from the employee and remitted to the Receiver General each month.
a. True
b. False
2. An employees wages/salary cannot be charged in the Payroll Journal to a different expense account than what is recorded as a payroll lined account.
a. True
b. False
3. An employees wages/salary can be charged to an expense account.
a. True
b. False
4. Vacation Pay amounts owing to the employee can be viewed in the Payroll Cheque Run Vacation Pay column.
a. True
b. False
5. Employee Advance amounts owing are shown in the Paycheques Journal.
a. True
b. False
6. The EMPLOYEES & PAYROLL module has a differential hourly rate.
a. True
b. False
7. Sage 50 Accounting has a Payroll feature that allows for Direct Deposit of Employees Gross pay to the appropriate employee bank account.
a. True
b. False
8. The Direct Deposit of employee cheques is a free service provided by Sage 50 Accounting and your bank.
a. True
b. False
9. In the EMPLOYEES & PAYROLL module, you can track sick days, special days off (leaves of absence) in the Employee Entitlement area if this feature has been set up for use.
a. True
b. False
10. Pop-up windows can be set up to be used with Customers, Vendors, Employees.
a. True
b. False
11. Employees can be paid (Payroll) by the number of pieces (piece rate) they produce during a day/week or pay period.
a. True
b. False
12. There is a setting in the Employees Payroll Ledger taxes to exempt an employee from having Canada Pension Plan deductions taken.
a. True
b. False
13. Payment details (previous month) for Receiver GeneralPayroll can be retrieved by using the Remittance feature in Payables.
a. True
b. False
14. The payroll remittance feature can only be used for payroll taxes.
a. True
b. False
15. Margin % = (Selling Price-Cost) / Selling Price
a. True
b. False
16. The Inventory module cannot be used for service businesses.
a. True
b. False
17. Markup % = (Selling Price Cost)/Selling Price.
a. True
b. False
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