Computer Accounting With Quick Books 2015 17th Edition By Donna Kay – Test Bank

11 Key

1. When creating a new account to record a new loan, enter the loan amount as:

A. an opening balance

B. investment

C. income

D. a separate transaction

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Kay – Chapter 11 #1

2. To enable manual payroll:

A. From the Company menu > Employees > Add Payroll

B. From the Employee menu > Start Payroll

C. From the Edit menu > Preferences > Payroll and Employees

D. None of these

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Kay – Chapter 11 #2

3. The steps in processing payroll include all of the following activities except:

A. Write Checks

B. Enter Time

C. Print Checks

D. Create Paychecks

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Kay – Chapter 11 #3

4. The employer must match which of the following taxes paid by an employee?

A. Medicare

B. Federal Unemployment

C. State Income Tax Withholding

D. The employer must match all of these

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Kay – Chapter 11 #4

5. When creating paychecks using QuickBooks, you deduct withholdings from employees’ pay for all of the following except:

A. State income taxes

B. Medicare

C. City income taxes

D. None of these

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Kay – Chapter 11 #5

6. All of the following are payroll tax liabilities owed to outside agencies except:

A. Federal Income Taxes

B. Unemployment Taxes

C. Net Pay

D. State Income Taxes

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Kay – Chapter 11 #6

7. Which order are payroll tasks typically completed?

A. Enter Time > Process Payroll Forms > Pay Employees > Pay Payroll Liabilities

B. Enter Time > Pay Employees > Pay Payroll Liabilities > Process Payroll Forms

C. Enter Time > Pay Payroll Liabilities > Process Payroll Forms > Pay Employees

D. Enter Time > Pay Payroll Liabilities > Pay Employees > Process Payroll Forms

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Kay – Chapter 11 #7

8. You can obtain a copy of Circular E to use for payroll preparation from:

A. The Employee section of the Home page

B. The Employee Center of the Home page

C. The QuickBooks website: www.quickbooks.com

D. The IRS website: www.irs.gov

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Kay – Chapter 11 #8

9. The Payroll Summary report can be accessed from:

A. The Employee section of the Home page

B. The Reports Center > Employees & Payroll

C. The Reports Center > Payroll Processing

D. All of these

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Kay – Chapter 11 #9

10. Taxes are withheld from paychecks for:

A. Employees

B. Independent Contractors

C. Owner’s withdrawals

D. All of these