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CPP-Remote Exam Dumps : Certified Payroll Professional

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Certified Payroll Professional Questions and Answers

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Question 1

An employer that deposits payroll taxes semiweekly incurs a tax liability of $55,000 on Tuesday and a liability of $110,000 on Wednesday. When should the taxes be deposited?

Options:

A.

$110,000 on Thursday and $55,000 on Friday

B.

$165,000 on Thursday

C.

$55,000 on Thursday and $110,000 on Friday

D.

$55,000 on Friday and $110,000 on the next Wednesday

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Question 2

In the first monthly accounting period of a company's fiscal year, which of the following occurs?

Options:

A.

Underpaid debts are "forgiven"

B.

Asset and liability accounts reflect prior year ending balance

C.

All liability accounts are reset to zero balances

D.

Asset account balances are reclassified

Question 3

The employer must withhold FICA and federal income taxes, and pay FUTA tax, when the employee's tips exceed what amount?

Options:

A.

$50 per month

B.

$50 per year

C.

$20 per month

D.

$20 per year

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