Computer Accounting With Quickbooks 2014 16th Edition Kay Test Bank

Computer Accounting with QuickBooks
2014 16th Edition Kay Test Bank

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c6
Student: ___________________________________________________________________________
1. A company is required to withhold payroll taxes for:

A. Employees
B. Vendors
C. Subcontractors
D. All of these
2. All of the following automatically calculate payroll tax withholdings in QuickBooks except:
A. Basic Payroll
B. Assisted Payroll
C. Enhanced Payroll
D. All of these automatically calculate payroll tax withholdings
3. To turn on QuickBooks time tracking feature, the following steps must be completed:
A. Click QuickBooks Menu > Time Tracking
B. Click Edit > Preferences > Time and Expenses > Time Tracking
C. Click Employees > Payroll > Time Tracking
D. Click Employees > Payroll and Employees > Time Tracking
4. Each year employees are sent Form ______ to summarize tax withholdings for the year.
A. 1099
B. W-2
C. W-3
D. W-4
5. The order of steps to process payroll is:

A. Enter Time > Pay Employees > Pay Payroll Liabilities > Process Payroll Forms
B. Enter Time > Pay Employees > Process Payroll Forms > Print Payroll Report
C. Pay Employees > Process Payroll Forms > Pay Payroll Liabilities
D. Enter Time > Pay Payroll Liabilities > Process Payroll Forms > Print Liabilities Report
6. In QuickBooks, time data is listed on customer invoices using the:
A. Timesheet icon
B. Pay Sales Taxes icon
C. Pay Employees button
D. Time/Costs button
7. Which one of the following is paid by both the employee and company?
A. Federal income taxes
B. State income taxes
C. FICA
D. All of these
8. Which of the following is not a payroll report:

A. Form W-2
B. Form 1065
C. Form 940
D. Form 941
9. The following are payroll liabilities except:

B. Unemployment taxes
C. Sales taxes
D. FICA
10. Which of the following is typically used to track time for a single activity?
A. Employee Tracker
B. Stopwatch
C. Timesheet
D. QuickTime
11. What QuickBooks activity comes next in this string of payroll activities:
Enter Time > Pay Employees > ______ > Process Payroll Forms.
A. Reconcile Payroll
B. Print Payroll Report
C. Pay Payroll Liabilities
D. None of these
12. When setting up a new employee where do you get their filing status and allowances information?
A. Form W-5
B. Form W-4
C. Form W-3
D. Form W-2
13. All of the following are QuickBooks Payroll Services, except:

A. Basic
B. Assisted
C. Advanced
D. Enhanced
14. When tracking time for subcontractors, which QuickBooks window is used to enter subcontractor
information?
A. Vendor List
B. Item List
C. Payroll Setup
D. Employee List
15. Which form summarizes payments made to subcontractors?

A. Form 940
B. Form 1065
C. Form 1099
D. W-4
16. The payment to a stockholder who is not an employee of the company is a:

A. Dividend
B. Paycheck
C. Vendor payment
D. None of these
17. Which of the following activities and QuickBooks window used to record it is incorrect?
A. Enter time worked; Weekly Timesheet
B. Pay payroll liabilities; Write Check
C. Enter employee information; Employee List
D. Pay payroll taxes; Pay Liabilities
18. An individual's status determines how to record payment to that individual. Which of the following status
and payment method is incorrect?
A. Vendor; Bill
B. Employee; Payroll
C. Stockholder; Dividend
D. None of these
19. To include a charge for labor on an invoice, labor as a service item must be recorded in the:
A. Item List
B. Vendor List
C. Inventory List
D. Employee List
20. The Payroll Center:

A. Contains the employee list
B. Manages payroll and tax information
C. Is where employees enter time worked
D. Is located in the Banking Center
21. Which of the following ways to track time is not supported by QuickBooks Pro and QuickBooks Premier?
A. Time Single Activity
B. Weekly Timesheet
C. Time clock
D. Online Timesheets
22. Which of the following may be billed to a specific customer job?

A. Mileage
B. Hours
C. Expenses
D. All of these
23. The Payroll Center has the following sections except:

A. Pay Employees
B. Write Checks
C. Pay Scheduled Liabilities
D. File Tax Forms
24. What is purpose of Federal Form 940?
A. Summarize the amount of unemployment tax paid and due by the company
B. Summarize the amount of federal income tax, Social Security, and Medicare withheld from employee
paychecks for the quarter
C. Summarize the amount of federal income tax, Social Security, and Medicare withheld from employee
paychecks for the year
D. Summarize of all your W-2 forms
25. What is the purpose of Federal Form 941?

26. Name 3 (three) types of payroll liabilities and indicate who funds each one.
27. Briefly describe what the "Time by Job" project reports tell management.
c6 Key
1. A company is required to withhold payroll taxes for:

A. Employees
B. Vendors
C. Subcontractors
D. All of these
Accessibility: Keyboard Navigation

Kay - Chapter 06 #1
2. All of the following automatically calculate payroll tax withholdings in QuickBooks except:
A. Basic Payroll
B. Assisted Payroll
C. Enhanced Payroll
D. All of these automatically calculate payroll tax withholdings

Kay - Chapter 06 #2
3. To turn on QuickBooks time tracking feature, the following steps must be completed:
A. Click QuickBooks Menu > Time Tracking
B. Click Edit > Preferences > Time and Expenses > Time Tracking
C. Click Employees > Payroll > Time Tracking
D. Click Employees > Payroll and Employees > Time Tracking

Kay - Chapter 06 #3
4. Each year employees are sent Form ______ to summarize tax withholdings for the year.
A. 1099
B. W-2
C. W-3
D. W-4

Kay - Chapter 06 #4
5. The order of steps to process payroll is:
A. Enter Time > Pay Employees > Pay Payroll Liabilities > Process Payroll Forms
B. Enter Time > Pay Employees > Process Payroll Forms > Print Payroll Report
C. Pay Employees > Process Payroll Forms > Pay Payroll Liabilities
D. Enter Time > Pay Payroll Liabilities > Process Payroll Forms > Print Liabilities Report

Kay - Chapter 06 #5
6. In QuickBooks, time data is listed on customer invoices using the:

A. Timesheet icon
B. Pay Sales Taxes icon
C. Pay Employees button
D. Time/Costs button

Kay - Chapter 06 #6
7. Which one of the following is paid by both the employee and company?
B. State income taxes
C. FICA
D. All of these

Kay - Chapter 06 #7
8. Which of the following is not a payroll report:

A. Form W-2
B. Form 1065
C. Form 940
D. Form 941

Kay - Chapter 06 #8
9. The following are payroll liabilities except:
B. Unemployment taxes
C. Sales taxes
D. FICA

Kay - Chapter 06 #9
10. Which of the following is typically used to track time for a single activity?
A. Employee Tracker
B. Stopwatch
C. Timesheet
D. QuickTime

Kay - Chapter 06 #10
11. What QuickBooks activity comes next in this string of payroll activities:
Enter Time > Pay Employees > ______ > Process Payroll Forms.
A. Reconcile Payroll
B. Print Payroll Report
C. Pay Payroll Liabilities
D. None of these

12. When setting up a new employee where do you get their filing status and allowances information?
A. Form W-5
B. Form W-4
C. Form W-3
D. Form W-2

13. All of the following are QuickBooks Payroll Services, except:
A. Basic
B. Assisted
C. Advanced
D. Enhanced

14. When tracking time for subcontractors, which QuickBooks window is used to enter subcontractor
information?
A. Vendor List
B. Item List
C. Payroll Setup
D. Employee List

15. Which form summarizes payments made to subcontractors?

A. Form 940
B. Form 1065
C. Form 1099
D. W-4

16. The payment to a stockholder who is not an employee of the company is a:

A. Dividend
B. Paycheck
C. Vendor payment
D. None of these

17. Which of the following activities and QuickBooks window used to record it is incorrect?
A. Enter time worked; Weekly Timesheet
B. Pay payroll liabilities; Write Check
C. Enter employee information; Employee List
D. Pay payroll taxes; Pay Liabilities

18. An individual's status determines how to record payment to that individual. Which of the following status
and payment method is incorrect?
A. Vendor; Bill
B. Employee; Payroll
C. Stockholder; Dividend
D. None of these

19. To include a charge for labor on an invoice, labor as a service item must be recorded in the:
A. Item List
B. Vendor List
C. Inventory List
D. Employee List

20. The Payroll Center:

A. Contains the employee list
B. Manages payroll and tax information
C. Is where employees enter time worked
D. Is located in the Banking Center

21. Which of the following ways to track time is not supported by QuickBooks Pro and QuickBooks Premier?
A. Time Single Activity
B. Weekly Timesheet
C. Time clock
D. Online Timesheets

22. Which of the following may be billed to a specific customer job?

A. Mileage
B. Hours
C. Expenses
D. All of these

23. The Payroll Center has the following sections except:

A. Pay Employees
B. Write Checks
C. Pay Scheduled Liabilities
D. File Tax Forms

24. What is purpose of Federal Form 940?


25. What is the purpose of Federal Form 941?

26. Name 3 (three) types of payroll liabilities and indicate who funds each one.
Federal Income Tax - funded by the employee, State Income Tax - funded by employee, FICA - funded by both
the employee and employer, and Unemployment Taxes - funded by the employer.
27. Briefly describe what the "Time by Job" project reports tell management.
These reports can help management by telling them how much time was worked on each job. Detail can also be
given by category, by employee, or by service offered.

c6 Summary
Category # of Questions
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Kay - Chapter 06 27

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Computer Accounting with QuickBooks

2014 16th Edition Kay Test Bank

1. A company is required to withhold payroll taxes for:

5. The order of steps to process payroll is:

8. Which of the following is not a payroll report:

9. The following are payroll liabilities except:

13. All of the following are QuickBooks Payroll Services, except:

15. Which form summarizes payments made to subcontractors?

16. The payment to a stockholder who is not an employee of the company is a:

20. The Payroll Center:

22. Which of the following may be billed to a specific customer job?

23. The Payroll Center has the following sections except:

25. What is the purpose of Federal Form 941?

1. A company is required to withhold payroll taxes for:

Accessibility: Keyboard Navigation

Accessibility: Keyboard Navigation

Accessibility: Keyboard Navigation

Accessibility: Keyboard Navigation

Accessibility: Keyboard Navigation

6. In QuickBooks, time data is listed on customer invoices using the:

Accessibility: Keyboard Navigation

Accessibility: Keyboard Navigation

8. Which of the following is not a payroll report:

Accessibility: Keyboard Navigation

Accessibility: Keyboard Navigation

Accessibility: Keyboard Navigation

Accessibility: Keyboard Navigation

Accessibility: Keyboard Navigation

Accessibility: Keyboard Navigation

Accessibility: Keyboard Navigation

15. Which form summarizes payments made to subcontractors?

Accessibility: Keyboard Navigation

16. The payment to a stockholder who is not an employee of the company is a:

Accessibility: Keyboard Navigation

Accessibility: Keyboard Navigation

Accessibility: Keyboard Navigation

Accessibility: Keyboard Navigation

20. The Payroll Center:

Accessibility: Keyboard Navigation

Accessibility: Keyboard Navigation

22. Which of the following may be billed to a specific customer job?

Accessibility: Keyboard Navigation

23. The Payroll Center has the following sections except:

Accessibility: Keyboard Navigation

24. What is purpose of Federal Form 940?

Accessibility: Keyboard Navigation

Accessibility: Keyboard Navigation

Kay - Chapter 06 #26

Kay - Chapter 06 #27

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