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NEW QUESTION 52
What is the purpose of the payroll accrual entry?

A. to reverse an entry made in errorB. to recognize expenses in the period in which they were incurredC. to recognize expenses in the period in which they were paidD. to reverse an entry from a previous period

Answer: B

 

NEW QUESTION 53
Under the federal requirements, a restaurant establish me with 10 or more employees is required to report allocated tips if reported tips are less than what percentage of gross receipts?

A. 10%B. 25%C. 6%D. 8%

Answer: D

 

NEW QUESTION 54
All of the following data elements are required to be maintained in the employee master file EXCEPT:

A. occupationB. marital statusC. birth dateD. social security number

Answer: B

 

NEW QUESTION 55
Federal tax withheld from a distribution of $50,000 from a qualified retirement plan paid directly to a retiree age 65 is:

A. $14,000B. $15,500C. $10, 000D. $0

Answer: C

 

NEW QUESTION 56
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