FUNADAMENTALS 2- PRETEST A weekly remitter pays employees every Thursday. This pay period they were paid on the 6th of September. Using the calendar provided in the material and assuming there are no statutory holidays, when is the remittance due to Revenu Québec? @C5 The 7th of the month The 10th of the month The 11th of the month The 12th of the month A workers' compensation audit will: c7 evaluate the current reporting system and provide recommendations for improvements provide workers' compensation information specific to the organization's needs link the employer to the appropriate resource support for all workers' compensation matters all of the above All accounts used to record business transactions form the: C1 general ledger liability accounts journal entries asset accounts All of the following require a footnote code to be entered on the RL-1 slip ,exceptwhere: @C6 Canada Pension Plan contributions are withheld the employee received a non-cash taxable benefit and no cash remuneration was paid for the year trips are made for medical care reported in Box K no Québec Pension Plan contributions are payable An accrual that reflects an ongoing expense incurred over a number of accounting periods and is paid at a later date is a:@p1-43 continuous accrual periodic accrual
long term accrual specific accrual An employer classified as an accelerated threshold 1 remitter has a bi-weekly payroll paid on July 13th. What date will the source deductions for this payroll be due? July 19th July 25th August 10th August 15th An employer with an average monthly withholding amount of $100,000.00 or more will be a(n):@c2 accelerated threshold 1 remitter quarterly remitter accelerated threshold 2 remitter regular remitter Annual returns in the Northwest Territories and Nunavut must include which of the following? C5 Social Insurance Numbers Total annual remuneration Total taxable remuneration All of the above Asset accounts: Have a normal debit balance and list items of value Have a normal credit balance and list items the company owes Have a normal credit balance and list items of value Have a normal debit balance and list items the company owes At the end of each accounting period, the following accounts are closed to zero: revenue and expense accounts equity accounts liability accounts asset accounts Canada Pension Plan pensionable earnings are reported in which box on the T4 information slip? Box 16 Box 18 Box 24
Box 26 Contributed capital is defined as:@C1 equity created through investments by owners or shareholders equity resulting from profitable activities revenue generated from dividends earned all of the above Contributed capital is defined as:@C1 equity created through investments by owners or shareholders equity resulting from profitable activities revenue generated from dividends earned all of the above Code 67 on the T4 information slip is used to report:@C3 annuity payments eligible retiring allowances non-eligible retiring allowances lump-sum payments from a pension plan Employer contributions to a Registered Retirement Savings Plan are: not reported by the employer not reported on a T4 reported on a T4A reported on a T4 Employers with a Québec enterprise number can register for electronic services called:c5 Electronic Québec Revenu Electronic Data Interchange My Account for Businesses Québec Electronic Services Employers may use the preauthorized debit feature of My Account for Businesses provided they meet the following condition(s): they are registered for My Account for Businesses electronic services they have an account at a participating financial institution they have completed form LM-2.DP-V, Payer's Pre-Authorized Debit Agreement
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