AIS Ch 15 HRM & Payroll

Which of the following is generally not a major source of input to a payroll system?

• Payroll rate changes.
• Time and attendance data.
• Checks to insurance and benefits providers.
• Withholdings and deduction requests from employees.

Experts estimate that, on average, the costs associated with replacing an employee are about ________ the employee's annual salary.

• 0.5 time
• 1 time
• 1.5 times
• 2 times

Which type of payroll report contains information such as the employees' gross pay, payroll deductions, and net pay in a multicolumn format?

• Payroll register.
• Deduction register.
• Employee earnings statement.
• Federal W-4 form.

Involving accountants in executive compensation plans is often especially helpful

• in keeping track of the executive compensation plan.
• in identifying the appropriate metrics to use when linking compensation to performance.
• in reducing the total amount of compensation paid to executives.
• in suggesting the appropriate amount of compensation executives should be paid.

Why is a separate payroll account used to clear payroll checks?

• For internal control purposes, to help limit any exposure to loss by the company.
• To make bank reconciliation easier.
• To separate payroll and expense checks.
• All of the above are correct.

The average annual management salary at Iyov Management is $100,000. If the average turnover rate for employees is six per year, what is the approximate average annual cost of turnover?

• $100,000
• $400,000
• $600,000
• $900,000

A report of income paid to independent contractors is called

• form W-2.
• form W-3.
• form 1099-Misc.
• form 941.

A report of wages and withholdings for each employee is called

• form W-2.
• form W-3.
• form 1099-Misc.
• form 941.