6 Written Questions

1. a consecutive 12 month period for financial record keeping following either a fiscal year
2. method for keeping track of payroll data using the pegboard system
3. Federal Insurance Contributions Act; the law that established Social Security and that mandates Social Security tax payments and benefits.
4. a document that lists that lists that required items to be purchased
5. a statement of debt owed; a bill
6. not initiating certain medical treatments

6 Multiple Choice Questions

1. a document that accompanies a supply order and lists the enclosed items.
   1. payroll
   2. check stub
   3. packing slip
   4. check register
2. statement of income and expenditures; shows whether in a given period a business made or lost money and how much
   1. gross income
   2. profit-and-loss statement
   3. packing slip
   4. purchase order
3. amounts the practice owes
   1. withholding
   2. Invoice
   3. audit
   4. liabilities
4. the amount of money an employee is paid after all taxes are withheld
   1. FICA
   2. payroll
   3. Invoice
   4. net pay
5. a federal agency that regulates and enforces various taxes
   1. payroll journal
   2. check register
   3. Invoice
   4. Internal revenue service
6. any report that provides a summary of activities, such as a payroll report or a profit-and -loss statement.
   1. audit
   2. liabilities
   3. summation report
   4. payroll

6 True/False Questions

1. federal unemployment tax → a federal agency that regulates and enforces various taxes

   True        False

2. audit → inspection of records to determine compliance and to detect fraud

   True        False

3. check stub → indicates to whom a check was issued in what amount and on what date

   True        False

4. check register → place to record checks that have been written

   True        False

5. payroll → the process of calculating employee salary

   True        False

6. gross income → a statement of debt owed; a bill

   True        False