Professor Elam

Are you up to date?

See for yourself with this bookkeeper’s quiz.

Our goal as your national association is to raise bookkeepers’ professional status. One way we do this is by keeping you current and offering practical, on-the-job help in our member newsletter, The General_Ledger.

The quiz below is based on just one past issue of The General Ledger.

See if you are up to date. Scroll down for the answers.

1. 1.     When the deposit of 941 taxes for the current quarter is insufficient, can the depositor allocate the amounts that go toward the company’s FITW v. FICA liability?
2. 2.     When a company’s 941 FITW liability for the quarter is not paid in full:
   1. the IRS can hold the company liable.
   2. the IRS can hold the “responsible person” liable.
   3. a or b.
3. 3.     When a company’s 941 FICA liability is not paid in full:
   1. the company is liable.
   2. the “responsible person” is liable.
   3. a or b, depending on what the IRS decides.
4. 4.     Under federal law, when there is not enough work for a non-exempt (hourly) employee to come in, can the employer require that employee to use up accrued vacation and paid time off?
5. 5.     Under federal law, when an exempt (salaried) employee comes to work, spends 20 minutes checking e-mails and voicemail, then is sent home for the rest of the week for lack of work, the employer must:
   1. pay the employee for the day
   2. pay the employee for the hour
   3. pay the employee for the week
   4. give the employee 20 minutes off in another week, but need not pay the employee anything.
6. 6.     When employee Joan elects to have a specified amount deducted from her salary for the year to be contributed to her health FSA, she may obtain reimbursement from her FSA:
7. 7.     When you correctly garnish an employee’s pay in compliance with an IRS Notice of Levy:
8. 8.     You can refuse a W-4 only when it has been _____ in any way, including unauthorized _____, or when the employee tells you that the information on it is false.
9. 9.     Most state laws covering remittance of unclaimed property (do/do not) have a statute of limitations.

1. in full, regardless of whether she has yet to contribute enough to cover the reimbursement.
2. as soon as she has contributed at least that amount to her FSA.
3. only up to the amount she has contributed to date.

1. you and/or your employer are liable and the employee can sue you.
2. you and/or your employer are not liable—the employee can sue only the IRS.
3. you and/or the IRS are liable and the employee can sue whichever party he or she wants to.

10.  When an employee occasionally checks office e-mails and voicemail at home before leaving for work, the U.S. Department of Labor (does/does not) consider this work time for which the employee must be paid.

Answer Key

9-10 correct         You are up to date. To stay that way, join AIPB today.

6-8  correct           You are missing information affecting your job. Join now to keep current.

5 or less correct   Too busy to stay current? Let AIPB keep you up to date. Join now.

1. 1.     no
2. 2.     a
3. 3.     c
4. 4.     yes
5. 5.     c
6. 6.     a
7. 7.     b
8. 8.     altered, additions
9. 9.     do not

10.  does

Remember, this quiz is based on just one recent issue of The General Ledger.