ACC 150 Exam 4 Review

17 January 2023
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question
A federal unemployment tax is levied on:
answer
Employers only
question
For FUTA purposes, an employer can be any one of the following except:
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an individual a partnership. a trust a corporation.
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Included under the definition of employees for FUTA purposes are:
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Officers of a corporation.
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Which of the following is not a factor considered in determining coverage of interstate employees?
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Location of company's payroll department.
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An aspect of the interstate reciprocal arrangement concerns:
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The transfer of an employee from one state to another during the year.
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Which of the following payments are taxable payments for federal unemployment tax?
answer
Christmas gifts, excluding noncash gifts of nominal value
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Which of the following types of payments are not taxable wages for federal unemployment tax?
answer
Retirement pay
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If the employer is tardy in paying the state contributions, the credit against the federal tax is limited to what percent of the late payments that would have been allowed as a credit if the contributions had been paid on time?
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90%
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Which of the following provides for a reduction in the employer's state unemployment tax rate based on the employer's experience with the risk of unemployment?
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Experience-rating plan
question
In order to avoid a credit reduction for Title XII advances, a state must repay the loans by:
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November 10 of the year the credit reduction is scheduled to take effect.
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Voluntary contributions to a state's unemployment department are:
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Designed to increase an employer's reserve account in order to lower the employer's contribution rate.
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The person who is not an authorized signer of Form 940 is:
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The accountant from the company's independent auditing firm.
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If the employer has made timely deposits that pay the FUTA tax liability in full, the filing of Form 940 can be delayed until:
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February 10
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When making a payment of FUTA taxes, the employer must make the payment by the:
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End of the month after the quarter.
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An employer must pay the quarterly FUTA tax liability if the liability is more than:
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$500