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Certified Payroll Professional

Last Update Dec 25, 2024
Total Questions : 249

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Last Update Dec 25, 2024
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AICP Total Questions : 134 Updated : Dec 25, 2024

Certified Payroll Professional Questions and Answers

Questions 1

The correct entry to record a payment of the employer's share of FICA tax is:

Options:

A.

Debit salary expense, credit tax withheld

B.

Debit payroll tax expense, credit cash

C.

Debit tax withheld, credit salary expense

D.

Debit cash, credit payroll tax expense

Questions 2

Which of the following best represents compliance under Section 404 of Sarbanes Oxley?

Options:

A.

Payroll transactions are reviewed by internal audit

B.

Service provider initiates all pay transactions

C.

Accruals entries are made by the payroll staff

D.

Benefits enrollment data is maintained by authorized personnel

Questions 3

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

Options:

A.

$14,000

B.

$10, 000

C.

$0

D.

$15,500