5 Written Questions
5 Matching Questions
- The amount of taxes to withheld is based on
- Fiscal year
- Trial balance
- a A method of checking the accuracy of accounts.
- b Total earnings of the employee
Number of withholding allowances claimed
Marital status of the employee
Length of the pay period involved
- c A standard of comparison to make sure answers obtained are accurate.
- d A paper describing a purchase and the amount due.
- e An accounting period of 12 months during which a company determines earnings and profit; the fiscal year does not neccessarily begin in January; the business determines the beginnging of its fiscal year.
5 Multiple Choice Questions
- The recording of business and accounting transactions.
- provides information about the amounts owed to the physician.
- is a record where transactions are entered.
- The Wage and Tax Statement. Employer is required to furnish two copies to each employee from whom income tax or Social Security tax has been withheld.
5 True/False Questions
Disbursement journal → is a record that is used to make payments.
Annual Returns → Form W-2 and Form W-3
Accrual basis of accounting → single-entry system, double-entry system, and pegboard (write-it-once) system
Equities → Things that are owed; debts.
Common summary reports include → Statement of income and expense, cash flow statement, trial balance, accounts receivable balance and aging analysis, balance sheet.