Free Practice Questions for APA FPC-Remote Exam

Direct deposit errors (A) may result in payroll mismatches and unrecorded transactions, causing the general ledger to be out of balance.

Other options (B, C, D) impact payroll costs but do not directly affect ledger balancing.

References:

Payroll Accounting Reconciliation Standards

As a semiweekly depositor, if the tax liability exceeds $100,000 in a single day, the employer must deposit the full amount by the next business day.

The combined liability of $169,200 must be deposited on Monday.

References:

IRS Publication 15 (Federal Deposit Rules)

ACA affordability safe harbors include (A), (C), and (D), but NOT Section 530 (B), which relates to independent contractor classification.

References:

Affordable Care Act Compliance Guide

Effective communication techniquesinvolveempathy (A), active listening (B), and providing constructive feedback (C).

Measurability (D) is NOT a communication technique; it refers to performance evaluation metrics.

References:

Payroll Leadership and Communication Guide (Payroll.org)

Cash equivalents, such as gift cards (A), are always taxable income.

Nominal gifts (B, C, D) are generally tax-exempt under de minimis rules.

References:

IRS Publication 15-B (Taxable Fringe Benefits)

Thefinal phase of the accounting process is generating financial statements (D), which summarize all accounting activities.

Transactions (A), journal entries (B), and general ledger (C) occur earlier in the process.

References:

Payroll Accounting Standards (Payroll.org)

Thefederal minimum wageis$7.25 per hour.

A state's minimum wage is$0.60 higher, so$7.25 + $0.60 = $7.85.

FLSA requires thehigherof state or federal minimum wage.

References:

FLSA Minimum Wage Provisions (Department of Labor)

Only the employer’s bank (C) can place a stop payment request.

Payroll providers (B) may facilitate, but do not issue bank stops.

References:

Payroll Banking & Direct Deposit Standards (Payroll.org)

Gross pay:$15 × 40 = $600.00

401(k) deduction:$50.00(Pre-tax)

FITW, Social Security (6.2%), Medicare (1.45%)applied

Using the IRS Wage Bracket Method, net pay is $651.45

References:

IRS Publication 15-T (Federal Income Tax Withholding Tables)

Voluntary deductions include:

401(k):$160.00

Medical insurance:$85.00

Dental insurance:$15.00

Total voluntary deductions:$160 + $85 + $15 =$260.00

Federal income tax, Social Security, Medicare, and tax levies are mandatory deductions, so they are NOT included in voluntary deductions.

References:

IRS Publication 15 (Circular E)

Payroll Source®, Payroll.org