Last Sage Quiz Part 1

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Last Sage Payroll Quiz

Test your knowledge of payroll processes and regulations with our comprehensive Last Sage Payroll Quiz! This quiz features 36 multiple-choice questions designed to challenge your understanding of payroll entries, deductions, and corrections.

Key Features:

36 detailed questions
Evaluate your payroll knowledge
Learn about payroll corrections and adjustments

36 Questions9 MinutesCreated by CalculatingCheetah27

The employee summary report option shows-

Wage or salary amounts

All year-to-date totals

All information entered in employee records

Earnings and deductions before paycheque

Which of the following statements about payroll is incorrect?

You must record an hourly rate, salary or commission to process a paycheque

The program calculates EI, CPP and Income Tax based on federal tax tables

You must enter amounts for RRSP and Medical manually in the payroll journals

The payroll ledgers do not have a single control account

The payroll journal may be used for only one of the following

All payments of employee cash transactions

All payments for employee purchase transactions

All payments that are wage or salary related

All payments to employees

Transactions enteres in the payroll journal wil not record...

All necessary details of the employees pay

Only hourly wage related types of transactions

Hourly related, salary and commission payments.

All earnings and deductions for the employee

When you post a payroll entry the following accounts are updated-

All properly linked payroll ledger accounts

Only the employee's wage expense and wages payable ledgers

Only the employers wages expense and wages payable ledgers

Only the employees earnings and deductions

To correct a data error in a payroll hournal entry after posting it you should

Select the employee from the employees list

Select the adjust pay cheque tool as a first step

Select the incorrect field(s) and enter the correct data

Select cancel and re-enter the correct information

When correcting a data error in a payroll journal entry before posting you should-

First open the payroll journal and enter the correct work

Remove the payroll entry from the edit menu

Select the incorrect field(s) and enter the correct data

Discard the payroll transaction by clicking the undo tool

When preparing a payroll journal entry for a salaried employee you must

Record the regular hours worked to determine the salary amount

Show the hours worked during the period for EI purposes

Show the hours worked for CPP purposes

Show the hours worked during the period for WCD ( or WSIB) purposes

The payroll journal entries for two employees with the same gross pay may not show the same net pay because

The tax deductions may be based on different claim amounts

The other deductions may not be the same

The employees live in different provinces

All of the above

The payroll journal entry and report screens will show that the employer did not

Contribute to the EI and CPP payable

Contribute to the EHT payable

Contribute to the WCB payable

Contribute to the RRSP payable

When in the process of correcting a data error in the payroll entry after posting

One should remember to recalculate the taxes

One should remember to reverse all amounts

One should remember to first cancel the entry

One should remember to re-enter all data

In the process of correcting a wrong employee error all but one is used

Prepare a new entry for the correct employee

Open the adjust cheque window for the employee

All amounts are automatically reversed when you choose void payheque

One should remember to recalculate taxes

The payroll entry and report screens show that only the employer

Contributed to the CPP payable

Contributed to the EI payable

Contributed to the RRSP payable

Contributed to the WCB payable

The payroll journal transaction report screen does not show

If the employee is paying RRSP contributions

If the employee is receiving an advance

The employees gross pay amount

If the employer is retaining vacation pay

Which one of the following general statements about payroll is not true

When adjusting a pay cheque, the program automatically recalculates vacation pay

The program will not automatically recalculate CPP, EI and Income Tax

When correcting for a wrong employee, you do not have to reverse the data

Changes for employee earnings and deductions cannot be made at any time

In the classic view, payroll journal reports may be accessed from

The home window - click the report centre, select emplloyee & payroll entries

The home window –click the pay cheques icon, then click the payroll journal

The home window –click the pay cheques icon and click the display tool

All of the above

In the payroll cheque run journal, you cannot –

Enter amounts for advances and advances recovered

Enter amounts for bonuses and commissions

Edit the salary amount for a period

All of the above can be entered in the payroll cheque run journal

Which one of the following general statements about payroll is incorrect –

All payroll cheque run entries are recorded with the same posting date

Quick add will add the employee name to the payroll ledger

One-time bonus payments should be recorded separately

You may edit any field that is not dimmed

How do EI, CPP, and Income Tax deductions differ from other payroll deductions –

They are federal government amounts calculated by the program

They are exempt from income tax

They are deducted from the gross earnings

They are entered just like any other deductions

To pay out the vacation pay for a previously retained amount, you must –

De-select the employee’s retain vacation check box

Once the amount is released, choose recalculate taxes

Remove wage amounts and optional deductions

A and c above

Which of the following statements about payroll journal entries is correct –

You can adjust a posted payroll journal entry from the payroll cheque run journal

You cannot change the default number of regular hours in the payroll cheque run journal

You can edit the piece rate in the payroll cheque run journal

You can adjust a payroll cheque run journal entry in the payroll journal

The payroll journal entries for different employees –

Must link the wages for all employees to the same wage expense account

Must link the EI expenses for all employees to the same EI expense account

Must use a single expense account for regular wages, salary and commissions

None of the aboove

You can adjust a payroll journal entry after posting by –

Selecting a different employee

Changing the wage rate

Accessing the adjust paycheque feature from the payroll journal

Changing the number of hours worked

Which of the following payroll details cannot be entered in the payroll cheque run journal –

Personal or sick leave days takes

Employee benefits

Advances given and recovered

All of the above can be entered in the payroll cheque journal

Which of the following would be considered a user-defined payroll expense –

Employer contributions to employment insurance (EI)

An employer pays the premiums for an employee life insurance plan

An employer pays overtime to employees

All of the above are user-defined expenses

When an employee has chosen to deposit paycheques directly to his/her bank account –

You can click direct deposit in the journal to issue a regular cheque

You must add the bank account number to the payroll journal for the employee

You cannot enter the paycheque in the payroll cheque run journal

You cannot issue a cheque directly to the employee unless you change the employee ledger settings

Employee benefits differ from other payroll deductions in that –

They are not added to or deducted from the wage amount

They may be subject to income tax

They create an employer expense entry for the business

All of the above

When an employee is entitled to sick leave and takes two days off during a pay period –

Enter 2 in the sick leave days earned field on the entitlements tab screen in the payroll journal

Enter 2 in the sick leave days taken field on the entitlements tab screen in the employee ledger

Enter 2 in the sick leave days taken field on the entitlements tab screen in the payroll journal

Reduce the number of hours worked on the income tab screen in the payroll journal by 2 days

To make payroll tax remittances –

Select pay remittance in the payroll journal and then select the supplier

Select pay remittance in the payments journal and then select the supplier

Select the supplier in the payments journal and then select pay remittance

When you select pay remittance in the payments journal –

The amounts for all payroll authorities are shown automatically

The amount shown as owing for an authority is the same as the liability account ledger balance

The journal always shows the amount owing for the previous month

You must select a payroll authority before the amount owing is displayed

Which of the following is not required when you make a payroll tax remittance –

Select pay remittance and then select the payroll authority

Enter the pay period covered by the remittance

Enter an adjustment amount for the opening general ledger account balance

Enter or accept the amount of the payment

You should enter a date of termination for an employee –

To indicate that the employee works on a short-term contract

As soon as you learn the date the employee plans to leave

After the employee has left the company

At any time before the employee leaves the company

The Payroll module window has journal icons for –

All types of payments to suppliers

Pay cheques and payroll remittances

Purchases, payroll remittances and pay cheques

All of the above

If a CPP amount is missing in a payroll journal entry, it is most likely that –

The employee has made the maximum contribution for the year

The employee’s province of employment does not require CPP contributions

The employee makes CPP contributions outside of work

All of the above are possible explanations

When you prepare a payroll remittance for the first time –

The historical balance forward amount is added automatically

Changing the pay period ending date changes the amounts on the remittance form

You can enter any period ending date after the fiscal start date

Both a and c above are correct

When you examine a payroll journal entry, you can see that an employee is repaying an advance –

From a debit entry for the Advances Receivable account

From a credit entry for the Advances Receivable account

From a reduced amount for the Wages Expense account

From an increased amount for the Wages Expense account

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