CPP-Remote APA Exam Lab Questions

Certified Payroll Professional Questions and Answers

Question 13

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

Options:

Underpaid debts are "forgiven"

Asset and liability accounts reflect prior year ending balance

All liability accounts are reset to zero balances

Asset account balances are reclassified

Question 14

Which for the following statements is true?

Options:

A company's fiscal year must not be the same as the calendar year

A company's fiscal year must be the same as the calendar year

A company may designate its fiscal year to cover 12 months that differ from the calendar year

A company must produce Forms W-2 at the end of its fiscal year regardless of the calendar

Question 15

Under the existing NACHA rules, amounts transmitted to the RDFI by 5:00 p.m. the day before payday must be posted to employees' accounts no later than:

Options:

The evening before payday

The end of the business day on payday

The opening of the business day on payday

Two days before payday

Question 16

Which of the following is the most logical order of events in a system implementation?

Options:

Training, development, testing evaluation

Feasibility, evaluation, development, testing

Conversation, training, testing, evaluation

Testing, evaluation, training, documentation

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Certified Payroll Professional Questions and Answers

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